HomePath down payment requirements

If it is a gift from family member or employer the underwriter will want the gift letter, a copy of the cashiers check and the bank statement from the giftor to verify they did infact have the money to gift. Call me if you need a little more help and I can identify the problem immediatly.Jake 913-749-5922. I am located in Kansas City and we do lend Nationwide.

If you are using FHA financing then all the down payment can be in the form of gift. You would need to obtain a gift letter from the donor, the donors most recent bank statement, and proof that the funds have entered your account or escrow. You should not need to show 2 months. Your lender could have their own guidelines. If you feel stuck, contact another lender. General FHA requirements allow for gift with no seasoning. Good Luck

i am a fannie mae direct lender i have been doing homepath loans for over 3 yrs.. out of the 3% , 2% can 1% of your own funds, seasoned in your bank account for 60 days, or i can use your tax refund, no seasoning , or out of your 401k.. You need to have 660 fico score, and active trade lines for over 2 yrs call me at 602-330-1598 lindaforloans@live.com