All the hoopla about the Down Payment Assistance going away is causing some us to become better students of FHA guidelines.
I was talking a mortgage buddy of mine We have helped a lot of Salt Lake 1st time home buyers over the years. He sent me a regulation from the FHA Manual 4155.1 REV 5, Section 1-13E., page 1-32, you can read through it, but what it says that a buyer can borrow the down payment from a relative, the relative can borrow the money from a bank as long as the borrower is not responsible to the bank…
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