Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply
Preapproval w/o 60 Day Bank Statements
Working on helping my dad get a loan for a four plex. We are targeting a loan with low down payment, that I will gift to him. He didnt have 3 months reserves so I gave it to him in an joint account we just set up 6 days ago.
Are reserves always required? Are reserves allowed to be gifted?
Should we wait to try getting an preapproval until after we have two account statements?