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The #1 USDA Originator in the Nation 2014 & 2015 and Top Originator 2016!
Do’s and Don’ts
These Do’s and Don’ts are just before & during the mortgage process. Once you have the loan, you can return to normal!
The best rule is “Don’t Change Anything!” unless you talk to your lender first. Refer to this loan checklist of do’s and don’t often.
Down Payment Methods
What is Acceptable?
Gifts. A family member can gift you the money as long as it is not a loan.
Borrow from your 401k. You have to pay it back, but you’re paying yourself back so you don’t lose anything.
IRA funds. You may be allowed to take out $10,000 per buyer, or $20,000 if you’re married, as a down payment on a home. You must not have owned a home for two years.
Grants. Most grants are for low income buyers and are administered locally.
What is NOT Acceptable?
Large Unsecured Deposits.
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