mardi 1 août 2017

What are all the mandatory Documents?

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When you go in to apply, they will GIVE you all the mandatory docs to begin filling out.
They will want to establish your income vs. expenses to see if you can afford the loan.
They will want to know where the down payment came from... that you did not borrow it elsewhere. If you have been saving over time, your bank statement will reflect this. A sudden deposit of $20K from an unknown source is a red flag.
Obviously, a credit check will be involved.
If you are looking at a trust deed (or land sales contract) then the criteria can be negotiated with those sellers willing to carry the loan themselves.

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What are all the mandatory Documents?

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