I own a townhouse in the Deer Run Development, Cranberry Township, PA 16066. It has 3 bedrooms,
1 1/2 bathrooms, finished basement, ALL appliances (including washer & dryer). It is an "end" unit with
a concrete slab patio in the back yard, off of the kitchen. I have just painted and installed new carpet through out the entire house, New faucets and lighting fixtures have also been installed, inside and out,
along with a new garage door. It's located off of Haine School Road, appx. one mile from the Haine
Elementary/Middle Schools. If interested.......email me @ email@example.com... more
The Lender will require an explination for the $ 10k and they won't take a verbal over the phone.
You will need a letter of explination as to why they gave you the money. Also a gift letter that you can get from your mortgage broker or bank. Im sure the internet can provide the fannie mae copy. Then your parents will need to complete the gift letter and all parties will need to sign it. Its easy to fill it out.
It gets harder, your lender will require as part of the gift letter proof as to where the parents got the $10k, copy of their bank statement, copy of withdraw, copy of deposit into your account.
Start off with; the $10k is NOT to be used for the purchase of the home and make sure you have ample funds to cover closing costs and down payment. Your mortgage broker should have told you all this a long time ago. Lenders always want to see Bank Statements and to suddenly have $10k in your account will raise a red flag.
above is a site that has the gift letter / or at least one that will work. If it was me I would get it from the Mortgage Broker. Sounds like you dont have a lot of time so I would get in touch with your mortgage professional ASAP.
I hope this helps. I spent 7 years doing Conforming loans and worked as an undewrwriter. Don't sweat it just get it done.... more
The best thing for you to do is contact a local lender and ask what their stipulations are on mobile home financing. Typically have to have a good amount of money down. Hope this helps. Best of luck.... more