Conventional mortgage loans allow for gift money to be used for the down payment and closing costs if it’s a gift from a family member. Family is defined by Fannie Mae and Freddie Mac as the parent. The children include adopted, step and foster children.
What are the disadvantages of not using a business plan?
You’re stuck because you don’t have a road map and you don’t know what to do next. It shows you are not good at planning or in a position to document things.
What are the advantages of business plan?
A business plan helps define business management objectives. It becomes a reference tool to keep the business on track. It can help measure and manage your priority areas of focus.