Typically the minimum is 5% of sales
price, plus closing costs and two months of the future mortgage payment saved
in a verifiable account for last two months. Fannie Mae also has some programs
such as 3%
Following is a list of Down Payment sources.
Personal Retirement Account(s)
Current Assets in Bank Account or other financial institutions
Stocks, Bonds, Mutual Funds, 401K's, etc
Fannie Mae only- Gift by family member, employer, approved non-profit organization.