When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs.
Most likely, you will be asked to provide statements for the last two or three months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds, and even your company 401K and retirement accounts. Loan companies are not as easy to obtain a home loan from as they were last year.
A few words of advice...right before buying a home...
* Don't make big purchases, like don't buy a car or charge a dream vacation on your credit card
* Don't change banks
* Don't change jobs or be unemployed
Did you - or someone you know- have problems obtaining a loan? Please share your reasons why..