Sunday, June 29, 2014

KENTUCKY FANNIE MAE CONVENTIONAL LOAN MINIMUM BORROWER CONTRIBUTIONS CHANGES

KENTUCKY FANNIE MAE CONVENTIONAL LOAN MINIMUM BORROWER CONTRIBUTIONS CHANGES FOR 2014 









FHA & Conv Gift Funds

A wire transfer is the answer when a gift Donor does not want to supply their bank statement or 30 day printout to show the withdrawal of the gift funds. Per HUD guidelines involving gift funds:
       • If the gift funds are paid directly to the settlement agent, the Mortgagee must verify that the settlement agent received the funds from the Donor for the amount of the gift, and that the funds were from an acceptable source.




FHA loans



usda loan










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Joel Lobb
Senior  Loan Officer
(NMLS#57916)


 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346

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