If you have a domestic partner or relative living with you and they will not be on the loan when you purchase your new home, you can still use the funds they contribute to buy that home. The lender will just need to verify that they have lived with you for at least 12 months and will continue to do so, along with evidence of a shared residency such as a driver’s license, bill or bank statement. If this sounds like your situation, let’s talk!
Related Article Title: Fannie Mae’s Top FAQs – NEW MTP™ – What is The Difference Between a Second Home and Investment Property? Written by: Lloyd Rutherford, Staff Writer FAQs published by Fannie Mae are a great way to learn a lot in a quick period of time. Read through this latest FAQ release and pick […]