Let's take a trip down the road to home ownership, stopping at every turn and viewing all the wonderful things you need to know about buying a home for those who choose to acquire by means of obtaining a mortgage. This can be a very frustrating and daunting task but certainly doesn't have to be. Nothing should take away from the excitement and joy of buying a home for you or your family, not even the process itself. As we journey down this path you will be well equipped with the information you will need to know before embarking on this exciting endeavor of buying a home. We will attempt to outline a step by step process of all the things you will need to know and want to be aware of in order to make your home acquisition as pleasant and stress free as possible. Before we go any further we must address 2 critical key pieces that will be needed in order to obtain a mortgage to buy your dream home which is going to be a SOURCE OF INCOME AND DOCUMENTATION for that income.
Source of Income
may include income that you receive from your job or business, 1099 or W2 income, social security income, child support, alimony, pension, even disability. All of these sources of income can used provided that the borrower has received it for typically the last 2 years, it remain consistent or permanent, and documentation
can be provided to the lender to prove or substantiate the income, which brings us to our second critical piece. For more information click here to contact a consultant.