ACCEPTABLE SOURCES OF FUNDS FOR

CLOSING COSTS OR DOWN PAYMENT

There are many ways to come up with the money that you need to buy a home.

My goal is to assist you with your personal plan!

1. Deposit Accounts, Vested Retirement Accounts, Stocks, Bonds, Trust funds
2. Gifts (may have minimum investment requirements depending on program & LTV)
3. Sale of Asset (Home, car, boat – proof required)
4. Secured Loans: Vehicle, 401k, Home Equity, Bridge Business Assets: Accounts (provided no negative impact on business)
5. Rent-to-Own: Credit toward down payment cannot exceed the difference between Market Rent and the Actual Rent paid for the last 12 months.
6. Seller Contributions: 2%, 3%, 6%, 8% or 9% depending upon LTV & Occupancy
7. Down Payment Assistance: Grant Funds or Community Loans
8. Tax refunds
9. Life insurance
10. Real Estate Commission
11. Lender’s Premium pricing
12. Real Estate tax credit
13. VA & USDA Loans Only – Personal Unsecured Loans Some Programs Allow Sweat Equity

   Note: Depending on the program, some of these funds may be used ONLY for closing costs. It is important to discuss with your lender what CAN BE USED for down payment purposes.