What is an “Access Letter” for jointly owned bank accounts?  Many times, people own a bank account jointly, which means that either person may be able to access the funds in the account. Sometimes, only one person on the account is buying a property, and they plan to use some of those funds to buy a home.  When this happens, the home financing lender may or may not request a letter from the other account holder(s) verifying that the person buying the home has full access to the account. If you have questions about whether this may affect your next home loan, let’s talk!
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What is an “Access Letter” for jointly owned bank accounts?  Many times, people own a bank account jointly, which means that either person may be able to access the funds in the account. Sometimes, only one person on the account is buying a property, and they plan to use some of those funds to buy a home.  When this happens, the home financing lender may or may not request a letter from the other account holder(s) verifying that the person buying the home has full access to the account. If you have questions about whether this may affect your next home loan, let’s talk!

ByBrandon Butler

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When you finance a home, there may be circumstances where a co-signer who is not occupying the property you are buying helps you out quite a bit! There are multiple reasons why someone would consider using a co-signer, but the most important thing to remember is that it could affect your required downpayment. That’s why it is essential to talk with your lender first! So let’s talk if you are considering adding a co-signer to your home loan!
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When you finance a home, there may be circumstances where a co-signer who is not occupying the property you are buying helps you out quite a bit! There are multiple reasons why someone would consider using a co-signer, but the most important thing to remember is that it could affect your required downpayment. That’s why it is essential to talk with your lender first! So let’s talk if you are considering adding a co-signer to your home loan!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.