Where Does Your Down Payment Come From?

Home Loans

Where Does Your Down Payment Come From?
(presented by www.refinance-refinance.net - mortgage lenders)

By Ben Afzal

Down Payments

Many lenders today offer 100% financing to a wide range of borrowers.

Even people with some credit issues still have the opportunity to get 100% financing.

Source of Payment

If you are making a down payment the mortgage lender may want to know where the money is coming from.

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If you provide the mortgage lender with a copy of your recent 2 months of bank statements, and the down payment money was not originally there, the lender may wonder where the money came from.

If the money comes from an investment account of yours you may need to provide documentation.

Lenders who require a down payment may want to see that you are capable of managing your finances and saving money.

Gifts

Some lenders allow money to be given to you as

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