Quick answer: On an $800,000 Broomfield 80020 home, two parents can give two buyers $76,000 in 2026, $19,000 per giver per buyer, with no gift tax return. Added to $84,000 of savings, that reaches 20% down and, at Freddie Mac's 7.24% average, cuts principal and interest by about $518 a month.
By Katerina Veteskova, Colorado real estate broker license FA.100082955, eXp Realty, LLC
A parent's help can close the gap between what you have saved and a 20% down payment. Two sets of rules decide how it works: the lender's rules on gift funds and the IRS rules on gift tax returns.
The math below assumes an $800,000 purchase, two buyers with $84,000 saved, and a 30-year fixed rate of 7.24%, the Freddie Mac PMMS average as of October 29, 2026, down from 7.32% a week earlier. Payment figures are principal and interest only, from my own arithmetic.
How much can parents give toward an $800,000 Broomfield 80020 home without a gift tax return?
Up to $76,000 in 2026 when two parents each give $19,000 to each of two buyers.
The IRS annual exclusion is $19,000 per donee for 2026, and it applies to each person who receives a gift. That stacks like this:
- One parent to one buyer: $19,000
- Two parents to one buyer: $38,000
- Two parents to two buyers on the loan: $76,000
If no other gifts go to the same buyer that year, gifts at or under those amounts need no Form 709 from the giver. An $800,000 price sits inside the Broomfield $700K to $1M search, and the zipcode has its own 80020 Broomfield homes from $700K search.
What does a $76,000 gift do to the monthly payment?
It trims about $518 a month and moves the purchase to 20% down.
- Savings only: $84,000 down, about 10.5%, a $716,000 loan at about $4,880 a month, plus mortgage insurance
- Savings plus the gift: $160,000 down, a $640,000 loan at about $4,362 a month
- Interest avoided over 30 years on the $76,000 not borrowed: about $110,458
A conventional loan above 80% loan-to-value needs mortgage insurance under Fannie Mae's rules, so the gift also takes that cost off the table. Each single $19,000 gift is worth about $129 a month on its own.
The $640,000 loan also sits well under the FHFA 2026 conforming limit of $862,500 in Broomfield County, with about $222,500 of room.
Get new Broomfield homes from $700K
Email me new Broomfield listings from $700,000 as soon as they hit the market, so the gift and the down payment are lined up before I tour.
Who can give gift money for a Broomfield mortgage?
A relative or a close personal connection, but never anyone with a stake in the sale.
Fannie Mae's gift rules accept a relative by blood, marriage, adoption or legal guardianship, a domestic partner or that partner's relative, someone engaged to marry the buyer, a former relative, or a long-standing mentor. The giver may not be, or be tied to, the builder, the developer, the real estate agent or any other interested party.
Can the whole down payment come from a gift?
Yes, on a one-unit home you will live in, even below 20% down.
Fannie Mae requires no minimum contribution from your own funds on a one-unit principal residence at any loan-to-value. Gift funds can pay the down payment, closing costs or reserves. A two- to four-unit home or a second home above 80% loan-to-value needs 5% from your own funds first, and gifts are not allowed on an investment property.
What paperwork does the lender want for a gift?
A signed gift letter plus proof the money moved.
- The letter states the actual or maximum dollar amount
- It says no repayment is expected
- It lists the giver's name, address, telephone number and relationship to the buyer
- Proof of transfer can be a copy of the giver's check and your deposit slip, an electronic transfer record, or a check or wire sent straight to the closing agent
If the gift lands in a different amount than the lender underwrote, the file may need to be resubmitted, so settle the number early.
What changes if the gift is larger than $76,000?
The parents file Form 709, but tax is unlikely to be due.
Say the parents cover the full $160,000 so the buyers keep their $84,000 as a cushion. Each parent gives $40,000 to each buyer, $21,000 over the exclusion per buyer, so $84,000 in all sits above the exclusions. Under the IRS filing rules, each parent files Form 709 by April 15, 2027. The 2026 basic exclusion is $15,000,000 per giver, and the IRS says the donor generally pays any gift tax.
How should you structure gift money on a Broomfield purchase?
Keep each gift at $19,000 when that covers the gap, and go larger only when the payment or cushion is worth a filing.
Keep each gift at $19,000 or less if:
- $76,000 or less closes the gap to 20% down
- The parents would rather not file Form 709 for 2026
- You want the shortest paper trail for the lender
Go above $19,000 per buyer if:
- A larger gift keeps a real reserve in your account after closing
- The parents are comfortable filing Form 709 by April 15, 2027
- The extra cuts the loan enough to change which homes fit your budget
Which Broomfield and nearby searches fit an $800,000 budget?
Start with Broomfield homes from $700K or the 80020 Broomfield homes from $700K search, then look at Broomfield homes from $1.2M if the gift stretches the budget. For context, Redfin put the 80020 median sale price at $574,831 for the three months ending September 2026, with homes selling in about 31 days at 98.8% of list.
Nearby, compare 80031 Westminster homes from $700K, Westminster $700K to $1M, 80027 Superior homes from $700K, Superior $700K to $1M and Louisville $700K to $1M. Farther afield, try Boulder $700K to $1M, Lafayette homes from $700K or the region-wide Front Range $700K to $1M search.
Broker view: "When a parent wants to help with a Broomfield purchase, I ask them to talk with the lender before any money moves. A clean gift letter and a clear paper trail keep the loan on schedule, and staying at $19,000 per buyer keeps the tax side simple." - Katerina Veteskova, eXp Realty, LLC
What this guide does not cover: FHA, VA and CHFA gift rules, gifts of equity from a seller, down payment assistance grants, loans from a parent that must be repaid, estate planning, state taxes, mortgage insurance pricing, property tax, homeowners insurance and HOA or metro district dues. This is general information, not tax or legal advice; ask a CPA or tax attorney about your own gift.
Sources: Freddie Mac PMMS weekly 30-year fixed average, 7.24% as of October 29, 2026. Fannie Mae Selling Guide B3-4.3-04 and B7-1-01. IRS, Frequently asked questions on gift taxes, and IRS Gifts and Inheritances FAQ. FHFA 2026 conforming limit list, Broomfield County row. Redfin 80020 zipcode housing market page, three months ending September 2026, checked October 29, 2026. Payment and interest figures are my own arithmetic from those numbers.
Planning a Broomfield purchase with help from a parent? Call or text 720-646-4685, or request a tour.
Frequently asked questions
How much gift money can a buyer get in 2026 without a gift tax return?
Each giver can give each buyer up to $19,000 in 2026 with no Form 709. Two parents giving to two buyers on the same loan can move $76,000 that way.
Can gift money cover the full down payment on a Broomfield home?
Yes, for a one-unit home you will live in. Fannie Mae requires no minimum from your own funds on that loan, and the gift can also pay closing costs and reserves.
Who files the paperwork if a down payment gift is over $19,000?
The giver. A gift above $19,000 to one person in 2026 calls for Form 709 by April 15, 2027, and the IRS says the donor is generally the one who pays any gift tax.
Does a $76,000 gift lower the payment on an $800,000 home?
Yes. At 7.24%, borrowing $76,000 less cuts principal and interest by about $518 a month, from about $4,880 to about $4,362 on a 30-year fixed loan.
Katerina Veteskova is a Colorado real estate broker (license FA.100082955) with eXp Realty, LLC. Call or text 720-646-4685, or request a tour.