14 acceptable sources for FHA downpayments

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14 acceptable sources for down payment.

1. Personal savings

2. Collatoized secured loan, Funds can be borrowed for the down payment as long as the funds are fully secured by existing marketable assets. These assets may include stocks, bonds, automobiles, real estate (other than the property being purchased), and the cash value of life insurance policies. A tax refund anticipation loan, provided by a lending firm filing automated returns, is considered to be a collateralized loan

3. Sale of Subject Property. Real estate agents are allowed to use their commission earned towards the down payment on FHA loans.

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Anthony VanDyke

FHA Specialist