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FHA Mortgage Lenders Source Of Down Payment And Reserves

FHA Mortgage Lenders require a minimum cash investment from FHA mortgage applicants own funds and/or gift (no cash on hand allowed when FHA mortgage applicants uses traditional banking sources and has traditional credit history). Any deposit 1 % and greater of the sales price must be sourced and seasoned. An aggregate of deposits 1 °/o and greater of the sales price must be sourced and seasoned. Any atypical deposits and /or multiple deposits outside of regular payroll may require source and seasoning when the funds are required for closing and/or reserves as this may be excessive based on the FHA mortgage applicants history. This is regardless of the aggregate of deposits> 1 % of the sales price.

Unacceptable Sources of  Retained earnings in a company, stock options, assets derived from State approved marijuana dispensary, VA education benefits (GI Assets Bill), student loans and/or grant funds, employer tuition reimbursements, unsecured borrowed funds, cash on hand, welfare benefits and Section 8 Voucher Assistance.

Refer to the  FHA Mortgage Lenders Underwriting Guidelines for more information.


US Mortgage Lenders has an extensive lender network that allows us to provide unique and mortgage solutions. Contact US for the most update information on terms and conditions. All Information on this site Is for example, hypothetical purposes and should NOT be relied on for decision making.
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