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Boise Young Professionals, Association of mortgage bankers
BA Sacramento State
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When is comes to gift funds it is a FHA (federal) requirement that there is a paper trail for all gift funds. At Guild mortgage in Boise, we have had parents with the same issues. What we do is have the
First, I would always seek this type of advice from a real estate attorney. Never take legal advice from anyone(especially a loan officer) else. Do either of your parents have any income at all? Social
When the house sells all loans will be paid off as long as the loans are not more then the house would appraise for. Are you in a community property state? If so, then the house belongs to your uncle even
If the second home is in the same city, it can't be a second home. It would have to be an investment property. If the property is in another town and your dad doesn't own any other second homes, there
The only loans that allow co-signers are FHA loans and FHA doesn't lend on second homes. So if you and your dad are buying it as a second home, your dad should try to quality on his own. If you have
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