Carrie, age 28, is engaged to Frank, age 30. Their wedding date is 9 months from today. This is the first marriage for both of them and they do not have any children. The couple indicates that their primary financial goal is saving for a down payment on a home. Franks parents are willing to provide the couple, as a wedding gift, with up to $40,000 to help with the purchase of the home. The cost of the home is $180,000 and they have current savings of $25,000 earmarked for this goal. What should you do next?

Carrie, age 28, is engaged to Frank, age 30. Their wedding date is 9 months from today. This is the first marriage for both of them and they do not have any children. The couple indicates that their primary financial goal is saving for a down payment on a home. Franks parents are willing to provide the couple, as a wedding gift, with up to $40,000 to help with the purchase of the home. The cost of the home is $180,000 and they have current savings of $25,000 earmarked for this goal. What should you do next?

Explain to Frank that a $40,000 gift from his parents would be subject to gift tax

Help the couple prepare a budget to assist in determining an affordable monthly payment.

Provide the couple with the name of a mortgage broker to help them choose the best vehicle to finance the purchase.

Ask the couple how they are paying for their wedding.