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What is a non-arm's length transaction?

Non-arm's length transactions are purchase transactions in which there is a relationship or business affiliation between the seller and the buyer of the property. Fannie Mae allows non-arm’s length transactions for the purchase of existing properties unless specifically forbidden for the particular scenario, such as delayed financing.

What happens if you get a non-arm's length loan?

In a non-arm's length transaction, lenders risk the buyer and seller potentially collaborating at the lender’s expense. As a result, it’s likely you'll face increased restrictions from lenders during a non-arm's length transaction. This may include things like a larger down payment, but it varies depending on the type of loan you receive.

Does a non-arm's length loan require a 15% down payment?

Yes, but there are more requirements by the FHA 1 during a non-arm's length transaction. One of these requires a 15% down payment, rather than the standard 3.5%. Consult an FHA loan professional to learn more. Have questions?

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