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How to Prove the Source of Your Down Payment

Posted onSeptember 06/2021By

Whether this is your starter home or your dream home, buying property can be exciting. After your offer has been accepted, you’ll need to get approval for a residential mortgage. A key factor in securing a mortgage is the down payment. Your lender, though, will want to know where you got the money for your down payment. Therefore, it’s important that you demonstrate the money was not borrowed. Here are some ways that you can prove the source of your down payment and get your residential mortgage approved. 1. Savings and investments Most homebuyers use savings and investment money for…

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