Are there restrictions on how I can get money for my down payment?

Your down payment must be your own money or money obtained from the sale of your current home. You can draw money from your savings, and monetary gifts from a family member are permitted. However, the money cannot be borrowed from a family member, a bank, or any other funding source that you will need to repay. That also includes borrowing against an asset such as a CD or life insurance policy.

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