This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property On Purchase Agreement Fannie Mae In Houston
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Multi-State
City:
Houston
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US-00123
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FAQ
Personal property may not be included as additional security for any mortgage on a one-unit property unless otherwise specified by Fannie Mae. For example, certain personal property is pledged when the Multistate Rider and Addenda ( Form 3170) is used.
Personal property may not be included as additional security for any mortgage on a one-unit property unless otherwise specified by Fannie Mae. For example, certain personal property is pledged when the Multistate Rider and Addenda ( Form 3170) is used.
Personal property may not be included as additional security for any mortgage on a one-unit property unless otherwise specified by Fannie Mae. For example, certain personal property is pledged when the Multistate Rider and Addenda ( Form 3170) is used.
It isn't permanently affixed to a parcel of land. A classic example of tangible personal property is clothing. A classic example of intangible personal property is a bank account. However, there are some versions of personal property that may be considered real property at a certain point, like fixtures in your home.
To qualify for Fannie Mae's 3% down mortgage options, you will need a credit score of 620 or higher and you will need to be a first-time homebuyer (meaning you have never owned a home or have not owned a home in the past three years).
Minimum Borrower Contribution Requirements A minimum borrower contribution from the borrower's own funds is not required. All funds needed to complete the transaction can come from a grant. The borrower must make a 5% minimum borrower contribution from their own funds.
If you just bought a property, and you're going to fix it up, and you're going be the owner for less that 90 days, and then an FHA buyer comes along, you have to wait until the 91st day to sign that contract with that FHA buyer. That's the anti-flipping rule.