down payment gifted down payment down payment options closing costs sellerfunded: Show Me the Money – OK Sources of Down Payment & Closing Costs
- 05/07/14 05:11 AM
When you meet with your clients, the conversation usually gets around to the topic of the down payment and closing costs—how much and where’s it coming from. Do you know what’s OKAY and what’s not okay? While not everything is covered here, these are the most common money sources clients usually mentioned. Acceptable Sources of Money Deposit accounts, vested retirement accounts, stocks, bonds, trust funds Gifts (PrimeLending now allows 100% gifted down payments!) Sale of asset (home, car, boat – proof required) Secured loans: Vehicle, 401k, home equity Business assets: Accounts (with accountant letter) or sale of assets Rent-to-own: Credit toward … (1 comments)
When you meet with your clients, the conversation usually gets around to the topic of the down payment and closing costs—how much and where’s it coming from. 
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