Friday, December 23, 2011 - Article by: North Star Bank - First National Bank Southwest -
Having trouble with your lender getting that FHA loan closed and funded. Listed below are 20 ways to leave your lender speechless and get that home you always wanted.
Verifiable Funds to Close
1. Earnest Money Deposit
2. Savings and Checking Accounts
3. Seller Contribution (up to 6% Provided that buyer has 3.5% contribution)
4. Collateralized Loans
5. Sales Proceeds from another home
6. Sale of Personal Property
7. Gift funds
8. Trade Equity
9. Employee's Gurantee Plan
10. Employer Assistance Plans
11. Savings Bonds, Etc
12. IRA, Thrift Savings Plans, 401(k) & Keogh Account
13. Stocks and Bonds
14. Cash saved at home (YES)
15. Rent Credit
16. Sweat Equity
17. Commission from sale
18. Disaster Relief Grants and Loans
19. Cash Accumalated with Private Savings Clubs
20. Second Liens - Family Member Lending, Government Agencies, Private individuals
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