bank statement: Bank Statement Mortgage Options From Angel Oak Home Loans - 05/20/19 09:46 AM

Our Bank Statement Program is an excellent way for you to sell more homes. Prospect for self-employed buyers and let them know you have an ideal option that may help them qualify for a home. While self-employed buyers may not fit into traditional loan guidelines, many do not have credit issues keeping them from qualifying for a home loan. Their issue lies within documenting income. As well, a number of these buyers might be looking for more expensive homes that fall into non-Agency Jumbo. 
All of our products are great, but Bank Statement is one you can count on to help your … (0 comments)

bank statement: Getting a Gift for Closing Funds??? - Know the FHA Rules - 05/11/10 02:07 AM
As we are seeing more and more buyers getting gifts for closing funds, its crucial to make sure that everyone understands what documentation is required.  Contrary to the belief of many, funds can't just simply appear in your bank account with no explannation required.  Essentially, all deposits which do not show as a direct deposit from a borrower's employer, Social Security Administration, a pension fund, etc, must be verified.   The general rule of thumb for a "large deposit" is anything over $300. 
FHA does allow a gift from a family member, domestic partner, or someone with a demonstration long-term relationship to the borrower.  A gift letter containing … (2 comments)