Fannie Mae – Offer Letter as Income: If a borrower has an offer letter with contingencies, can they close before they start their new job?

Answer: Fannie Mae offers two options. Option One requires the lender to hold the loan until the borrower’s first paycheck is received. This leaves the lender at risk, but you could close with contingencies if the lender wants that kind of risk, but they would not be able to deliver the loan to Fannie Mae […]

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