Talk of The Villages Florida - View Single Post - New Homes can't close FHA
Thread: New Homes can't close FHA
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Old 03-03-2013, 12:59 PM
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KayakerNC KayakerNC is offline
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Quote:
Originally Posted by TraceyMooreRN View Post
Villa closes this Tuesday, and I will scrape up another 15k...from where I am not sure--maybe a "gift".
Be very, very careful about cash gifts. After the housing bubble burst, there are some very restrictive regulations on down-payment money.
Basically, the banks want to make sure that you’re not getting a second loan against the property that they’re going to put a mortgage on.
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KayakerNC
Mt Clemens, MI
Newport, NC
Suffering from TV envy
Last edited by KayakerNC; 03-03-2013 at 03:40 PM.