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The average American home costs around $200,000. That means if you are getting a mortgage under the umbrella of Fannie Mae and Freddie Mac, you must put down around 5 to 20 percent of the property’s sale price. That is about $10,000 to $40,000 in down payment that you need to pull out from your savings or your liquid assets. But not everybody has the money to cover that … [Read more...] about Things to Consider When Using Gifts for Down Payment