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/u/Alarmed_Kale5313
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- Conventional mortgage for single-family, primary residence
- Loan funds not needed or being used for downpayment or reserves.
- "Informal" loan (i.e., no fixed term, zero interest, no security/guaranty/etc.); gift letter not available though.
- Source of funds is immediate family, no issues with provenance of funds.
How would something like be underwritten for debt-to-income (DTI) and qualification purposes? There's no repayment schedule of any sort.
submitted by /u/Alarmed_Kale5313
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How would Personal Loan from Family be underwritten?
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