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Since May 2009
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Since January 2009
If it is a conventional loan then you should just need to show the money go into your account. Sourcing those funds is not necessary. A gift letter is filled out but the account info is not necessary. Now for an FHA loan you will need to source those funds. Copy of the cancelled check should suffice so that your parents do not have to worry about someone seeing all there account activity. The only other option with a FHA loan is to have the money deposited into your account 60 days in advance.
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Since February 2009
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Since November 2009
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Since July 2009
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Since August 2009
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Since August 2009
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Since January 2009
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Since August 2009
Lender rating
Since September 2009
The only way for their account to not be involved would be if they gifted you the money in advance. You would need to show the money in your account for a minimum of 60 days and in some cases the bank wants to see the money in there for longer.
Lender rating
Since August 2009
No as the source and trail or movement of the funds needs to be documented. Your parents will need to demonstrate they have the ability to give the funds. Others may have different suggestions. Good Luck
Lender rating
Since January 2009
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My parents are giving the down payment but don't want their account info involved is that possible?
juswondering
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