Selling Guide

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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B3-4.2-04, Pooled Savings (Community Savings Funds) (04/01/2009)

Introduction

This topic contains information on pooled savings (community savings funds).


Pooled Savings (Community Savings Funds)

Funds from a community savings account or any other type of pooled savings may be used for the down payment if the borrower can document regular contributions to the fund.

Acceptable documentation includes written confirmation from the party managing the pooled savings fund and documentation of regular borrower contributions.

The borrower’s obligation to continue making contributions to the fund must be considered as part of the borrower’s debt when calculating the total debt-to-income ratio.

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