Conventional Purchase
Loan Amount
Closing Date
Identification
Assets
Borrower Name
Marketing Rep
Assets, Continued
Gift Amount
Definition of Large Deposit
If aggregate total of ALL Non-Payroll deposits equals more than 50% of monthly income, the total of all random bank deposits must be sourced or will be subtracted from available balance.
Student Loan Payments
For Conventional Loans, the amount showing on the bureau can be used with a IDR Letter to support payment. If in deferment or reporting a zero payment must obtain IDR Letter, use 1% factor OR calculate payment using calculator attached.
Notes: If 401(k) Assets are to be used for Down Payment (or Reserves), collect from the Client Terms and Conditions of Withdraw, the Loan Note, copy of the proceeds check and Proof of Deposit into Checking along with a before and after the loan plan statement.
Check Amount
Anticipated Amount
Collections and Charge offs
Follow AUS Findings for SFR; O/O not required to be paid off. 2+ units, Second Homes and NOO see guidelines