I put offer down on FHA approved condo in Queens. Does sponsor have right to know how much we are putting down with FHA loan? Does it matter to them?

Asked by Queensman, Brooklyn, NY Mon Aug 22, 2011

Wondering if they are just digging for info for negotiations, or if there is really a need to know. Since it is a pre-approved FHA loan, and we have excellent credit, no debt, and good income, not sure why they need to know.

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Annette Levi…, , New York, NY
Tue Aug 23, 2011
Are you buying from the sponsor? If yes, then they have a right to know, besides it will be in the contract. If this is a resale, then why are you speaking with the sponsor?
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Anna M Brocco, Agent, Williston Park, NY
Tue Aug 23, 2011
For any necessary legal advice, consult with your attorney; generally yes, the sponsor can ask such information...
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