Can closing costs be gifted?

[Andrea Flores]

When buying an investment property can closing costs be gifted as long as the 20% down is my money? I live in michigan. Not sure if that's relevant.

[Account Closed]

Sorry Shawn- it wasn't meant to be a personal attack. I see you are a loan officer so maybe I should have been a bit more delicate in my comment. The eligibility matrix shows various categories based on LTV and FICO. To say 6 months is not accurate- are we looking at the same matrix? If for instance, the borrower was going up to 45 percent DTI and they were between 680-700 FICO and >75LTV wouldn't the required reserves be 12 months PITI according to the matrix? Just pointing out a one size fits all answer probably wasn't appropriate to describe underwriting requirements without more details.