What is the Proof of Income for a Mortgage Loan?

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  • #14910
    Kimjousha321
    Participant

    What is the Proof of Income for a Mortgage Loan?

    #15082
    lisaslaw@web
    Keymaster

    Hi, thanks for your question!

    I will try to answer your question as best as I can.

    If you are referring to proof of income for a mortgage loan application, you will need to speak to the bank or broker directly because every bank has different requirements.

    For proof of your cash contribution, our firm will require 6 to 12 months bank statements depending on your financial standing and the amount of the cash contribution. From his bank statements, if there are deposits from third parties we will require evidence of the source of the deposit. For instance payslips for salaried income, sale contract for proceed of sales, or giftor’s source of income and wealth if it is a gifted funds.

    Hope this helps,

    Lisa’s Law.

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