make sure you do this before you apply for a loan: Make Sure You Do This Before You Apply For A Loan…
- 11/17/15 09:40 PM
I touch on this from time to time, but it’s important so I want to revisit it…
One of the most important things you will have to do when you apply for a loan is to show that you have the money for the down payment.
This is called sourcing in the mortgage industry.
For instance, the down payment on an FHA loan is 3.5%.
If the seller is paying your closing costs – you will still have to pay your 3.5% down payment.
You can have this money in your checking account or savings account now. You can borrow it from your retirement account.
…You can … (1 comments)
|
|
|
|
I touch on this from time to time, but it’s important so I want to revisit it…
;)
;)
