MONEY JUST ISN’T KING!
Well at the very least if you’re getting mortgage loan it really isn’t!
Whenever getting prequalified for a home loan, whether or not it is a government loan like VA, FHA, USDA, or a loan that is conventional Fannie Mae or Freddie Mac, you will find three areas your Loan Officer will investigate and require documents. Those areas are credit, earnings & assets. Federal and State legislation govern the mortgage procedure so regardless of in which you head to obtain a true mortgage, these details will use.
In the 1st installment of the series that is 3-part securing a property loan, let’s first explore assets.