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Help! Best way to source mattress. Cash

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stopdrpnro
Valued Member

Help! Best way to source mattress. Cash

Been on the hunt for a home for the last few months. And. Anticipating this (along with the birth if my first child) I've been selling off my toys gas scooter, paintball gear etc. It's not. A ton of cash(almost 2k) relatively speaking but is there any way I could source this cash  without writing stacks of loes With craigslist ads to support them. I.E. Give the cash to a family member and have them "gift" it back? Not trying to launder money here or cheat just want to much as possible down thanks in advance 

Message 1 of 4
3 REPLIES 3
Jutz
Valued Contributor

Re: Help! Best way to source mattress. Cash

If you're going FHA the funds for downpayment can come from someone you have a "vested relationship" with.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
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WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 2 of 4
StartingOver10
Moderator Emerita

Re: Help! Best way to source mattress. Cash


@Jutz wrote:

If you're going FHA the funds for downpayment can come from someone you have a "vested relationship" with.


Also if it is seasoned for a few months by sitting in your bank account prior to actually finding and contracting for a home and making official mortgage application. So you said you have been looking for months, did you ever deposit the funds? If not, then Jutz is right.

Message 3 of 4
Jutz
Valued Contributor

Re: Help! Best way to source mattress. Cash


@StartingOver10 wrote:

@Jutz wrote:

If you're going FHA the funds for downpayment can come from someone you have a "vested relationship" with.


Also if it is seasoned for a few months by sitting in your bank account prior to actually finding and contracting for a home and making official mortgage application. So you said you have been looking for months, did you ever deposit the funds? If not, then Jutz is right.


Yeah, that's true.  I assumed they were under the gun and didn't have the time.  Could loan from 401k and pay back with mattress money after closing I guess.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 4 of 4
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