Move any slider and see how much bonus down payment (gift) is needed to buy the house. Everything is calculated in your browser and nothing is sent anywhere. Saved presets stay in this browser.
My saved presets
Presets save automatically in this browser on this device. Use "Copy link to this scenario" to move one to another device.
Bonus down payment needed
$0
Where the money comes from
Total to fund = price + closing and other one-time costs.
Cash needed, step by step
Monthly payment
Income check
Compares the monthly payment with take-home income (post-tax, pre-benefits).
What moves the number
Each row changes one assumption from your current settings and shows the new gift needed.
Gift needed across monthly payments
Rows are target monthly payments (taxes, insurance and the rest included as set above). Pick what to vary across the columns.
Gift vs. monthly payment
A lower monthly payment means a bigger gift. The dot is your current setting. Move over the line to read values.
15, 20 or 30 years?
Same settings, different loan terms. In "target payment" mode a shorter term shrinks the loan, so the gift grows.
Gift tax and paperwork
How this works
Bonus down payment = cash needed at closing − the buyers' own money.
Loan size. In "target payment" mode, the monthly payment you pick covers taxes, insurance and (optionally) HOA first. What is left pays principal and interest, which sets the maximum loan at the chosen rate and term.
Cash needed. Purchase price − loan + closing costs + any other one-time costs.
Own money. Net proceeds from selling the current home (sale price − payoff − selling costs), plus investments sold, plus any other savings.
Gift. Whatever is left. If it comes out negative, no gift is needed and the page shows the surplus.
Things to keep in mind
Figures are estimates. A lender's Loan Estimate will have the real closing costs, rate and escrow amounts.
Lenders usually ask for a signed gift letter (amount, donor's relationship, statement that no repayment is expected) and proof the money moved from the donor's account. Ask the lender how early the funds must be in place.
If the current home sells after the new one closes, the cash needed at closing is higher until the sale proceeds arrive. See "Timing check" in the monthly section.
Property tax can rise after a sale because the county may reassess. Use the reassessment slider to test it.
Gift tax figures are general information, not tax advice. Check with a CPA before making the gift.