Technical Guidance: This program is authorized under Section 203, National Housing Act (12 U.S.C. 1709 (b), (i)).

I needed to get a character reference for one loan, a reciept for the purchase of an engagement ring, for another to prove the couple was engaged, and income asset docs for a stated stated deal.

Will,The main reason for forming an LLC is to protect your own assets.

Certainly if the LLC has this in assets, it will meet the threshold.

Hope this helps a bit:[POST EDITED BY ADMIN - You may not post articles from other sites without the permission of the author.

The authorized agent for TRADA in Texas is Todd Prins, an attorney in San Antonio, Texas, 210-820-0833

(in this case I would have to say $5,000 or more in the bank) Also do you have any other assets that you can use to help leverage a better rate on the loan itself, you see the less likely it is for a lender to lose their money the better rate you will get.

Hi, for a newbie who just starting out, no job, no house, no asset, not much cash in pocket...

That is exactly the angle we use... very successfully I might add.It is very important to get their rents to market rate, but IMHO it is more important to get them on a good lease that protects you and your asset.

Current Buyer is a 720 fico and 4-5m in liquid assets.