Posted by Ed Garcia on July 06, 2003 at 11:05:56:
The answer to your question is YES.
However it can vary from lender to lender. Usually the better the rate on your loan, the stronger the lending criteria. Your better-cost loans, may not allow borrowed down.
Washington Mutual for an example will offer a NO income NO asset loan. No ASSET means, that at a curtain loan to value, they will not verify the down payment.
So some lenders may have a program that may or may not verify the down payment.
Your best source for finding this type of loan would be a Mortgage Broker.