Buy down money needed to show in account before credit access?

Home Forums Purchase Program Buy down money needed to show in account before credit access?

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  • #70546
    coquipr79
    Participant

    Hello!

    Would anyone know if we need to have the buy down money in our account before getting credit access? We would be selling our home and would not have the buy down money until it’s sold. Of course by closing time the home would be sold and buy down money available.

    Thanks!

    #70548
    Nelsont
    Member

    Generally yes but I think in your case you’re fine. Just keep in mind the transfer of title paperwork might become a condition to provide.

    #70561
    coquipr79
    Participant

    Thanks for the reply. Would that be a potential condition to get credit access or in order to get to closing?

    #70567
    Nelsont
    Member

    I am not positive. I think you can get through credit access. What I know is that you cannot rent the house from the new owner you must move out and closing on your new house through naca will not take place until you can prove your current house is sold.

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