Saturday, February 12, 2011

Acceptable Sources of Downpayment for Kentucky FHA Loan

Acceptable Source of Funds Reference
•Earnest money deposit


•Savings and checking accounts


•Cash saved at home


•Cash accumulated with private savings club


See HUD 4155.1 5.B.2



•Savings bonds


•IRAs


•401(k) and Keogh accounts


•Stocks and Bonds


•Thrift Savings Plans


See HUD 4155.1 5.B.3



•Gift Funds


See HUD 4155.1 5.B.4 and HUD 4155.1 5.B.5




•Sales proceeds


•Sale of personal property


•Commissions from sale


•Trade Equity


•Rent Credit


•Sweat Equity


See HUD 4155.1 5.B.6






•Collateralized loans


•Grants and loans


See HUD 4155.1 5.B.7






•Employer's Guarantee Plans


•Employer Assistance Plans


See HUD 4155.1 5.B.8

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