© Fannie Mae Single Family Selling Guide
Anticipated Savings
The lender may preliminarily qualify a borrower on the basis that anticipated savings will be sufficient to meet the funds needed for closing. The lender must verify that savings are actually accumulated by the borrower before loan closing.
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For HomeReady mortgages, cash-on-hand may be considered an acceptable source of funds for the down payment and closing cost. See Chapter B5–6, HomeReady Mortgage.Additional Information: https://www.fanniemae.com/content/guide/selling/b3/4.3/20.html