Tag: source of funds

Freddie Mac Selling Guide Updates – Bulletin 2020-45 – Dated December 2, 2020

Written by: Lloyd Rutherford, Staff Writer This update includes many more updates than just the loan limits.  Big changes for Solar Panels, Power of Attorney requirements, Home Possible LTVs, Sweat Equity and Cash-On-Hand.  Read through this excellent overview from our expert regarding what you need to know! UPDATED MC Chart – Solar Panels – All […]

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Funds to Close from a Non-Borrowing Spouse

Question: I have a married couple using FHA financing.  One spouse will be on the mortgage and both will be on the title.  However, the funds for the down payment and closing costs are coming from the non-borrowing spouse’s retirement account that he is depositing into their joint account. What are the FHA guidelines for […]

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