HELP! | Source of Down Payment: |
If this is a purchase and you are making a down payment, click "yes" and identify the source of the down payment in the next field. Source of Down Payment: If you are purchasing a property and are making a down payment on the property, choose from the drop-down window where the funds are coming from. If you are not purchasing a home, there is no need to comment on the source of down payment. Settlement Charges: For the purposes of this form, any settlement charges you are required to pay in escrow can be listed on this form if it needs to be taken into consideration for you to qualify for the loan. Subordinate Financing: If you have a 2nd mortgage on your property, it will be paid off after the first mortgage is paid in full. This means that the 2nd mortgage is subordinate (or junior) to the first mortgage. If you are unsure what to enter, please leave the explanation box empty - this will in no way affect your qualifications for a loan. |
|