We'll talk you through this to arrive at the most cost-effective solution. When you take your offer to a lender, be prepared with two years' income history. Two years' history is also required for salaried or hourly employees. Commissions, bonuses and overtime can be considered with a two-year record. Your down payment is an important part of the mortgage application.
Money used in the transaction has to be from a verifiable source.
Newly deposited money may be questioned and it's up to the borrower to prove the source. You can also borrow the money, as long as the loan is secured. An independent appraisal is needed to verify the market value of the property. Beaufort Realty can help you with this step, with a list of qualified appraisers on our staff and in the area. Skilled mortgage professionals can recommend the type of mortgage that's right for you.