WebUse analytical skills to find solutions for clients who do not qualify for tradition lending, such as non-occupying co-borrowers, down payment … WebApr 5, 2024 · If the retirement assets are in the form of stocks, bonds, or mutual funds, the account must meet the requirements of B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds, for determining value and whether documentation of the borrower’s actual receipt of funds is required when used for the down payment and closing costs.
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WebApr 5, 2024 · Business Assets. Business assets may be an acceptable source of funds for the down payment, closing costs, and financial reserves., The borrower must be listed as an owner of the account and the account must be verified in accordance with B3-4.2-01, Verification of Deposits and Assets. WebMar 23, 2024 · Market-based assets: updating policies for use of stocks, stock options, and mutual funds for down payment, closing cost costs, and reserves UPDATED May 5, Jun. 11, and Jul. 9 with new effective date UPDATED … how do i save only one slide of a ppt show
B3-4.2-02, Depository Accounts (12/14/2024) - Fannie Mae
WebJul 23, 2015 · Funds in any account with a business name on it will be deemed “business funds” even if the account is used for personal expenses. Borrowers need to be reminded of this, and they need to discuss the source of every penny of their down payment and closing costs with us. Avoid Business Funds Transfers WebApr 5, 2024 · Down payment assistance may not be funded in any way through the first mortgage, such as through premium pricing. Grant funds may also be applied towards energy-related improvements if. the program under which the funds are made available allows such a use, and. the minimum borrower contribution requirements are met. WebLow down payment mortgages are a great solution for helping borrowers achieve homeownership, but for some borrowers, finding even a 3% down payment can be a … how do i save pictures from my phone to my pc