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Updated over 5 years ago on . Most recent reply

Zenas Underwood's profile image
Zenas Underwood's profile image
Zenas Underwood
  • Investor
  • from Eau Claire, WI
  • Member since Aug 27, 2019
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User Stats

19
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5
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Zenas Underwood's profile image
Zenas Underwood's profile image
Zenas Underwood
  • Investor
  • from Eau Claire, WI
  • Member since Aug 27, 2019
Connect
Zenas Underwood
  • Investor
  • Eau Claire, WI
5
Votes |
19
Posts
Private Lending & Conventional Mortgage Advice

Preapproval w/o 60 Day Bank Statements

Zenas Underwood
  • Investor
  • Eau Claire, WI
Posted

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?

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