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down payment: Why sourcing gift funds is crucial - 08/27/10 04:54 PM
Having the ability to use a down payment gift from a friend or family member is wonderful. In today's real estate and employment economy it is almost crucial in a small percentage of cases. During a time when many are selling below payoff and needing to bring the deficiency to the closing table they may be greatly decreasing their available cash to close. When this happens having a gift from an employer, family member or friend can mean the difference between getting that home and not getting the home.
Many will argue if a buyer does not have the down payment … (4 comments)

down payment: Finance Challenge: Reserves - the right amount, the right type, the right timing - 10/16/09 09:31 PM
So you have the down payment - sourced and seasoned just like it needs to be. All saved up, stored away nicely in the bank for the last 60 days, and ready to be invested into a home. The closing costs are there, too, and all perfectly documented for the last two months. Great job! Your down payment and closing costs are in order. This is something to be proud of!
It's always something that needs to be covered right up front. When the loan officer is taking the application and they know what it requires for down payment and the … (6 comments)

 
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Ken "Yes You Can" Cook

Marietta, GA

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Ken Cook, Web Dev, Brand Strategist 678-439-8683

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