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What funds count toward the minimum borrower contribution?

April 26, 2017borrower contribution funds minimum

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What funds count toward the minimum borrower contribution?

1 Answer

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Prepaid closing costs such as the credit report, first year hazard insurance premium, home inspection or earnest money can be used to satisfy this requirement. The minimum borrower contribution must come from the borrower’s own funds that must be seasoned for at least two months.