Fannie Mae released a new version of their automated underwriting system in July. Improvements should benefit self-employed borrowers, those with disputed accounts, borrowers with new jobs, and those with higher debt to income ratios.
Most mortgage loans come with an impound account for paying property taxes and homeowner's insurance. Impound accounts are pre-funded at closing. And an impound (or escrow) analysis is conducted by your lender once a year.
When you negotiate a purchase agreement with a seller, you'll be asked to put down earnest money. Earnest money is a deposit that shows the seller you're serious. And like any money that you plan to use to purchase your home, you'll be asked to "source" your earnest money.