The rule of thumb is whatever it takes for the Underwriter to be assured that funds are applicant s. ESI paid closing costs.
Excluded fees are prepaids.
Borrower may get a home equity loan only once a year. Co-signors are not permitted. Power of Attorney is not permitted The borrowers shall not be required to use the funds for any specific purpose. If debts must be paid off to qualify, a signed, voluntary acknowledgment from borrowers stating that they would like certain debts paid off by lender from loan proceeds must be included in file.