Frequently asked questions regarding job history and funds to close on a mortgage
Are you a salaried employee, hourly, self-employed, or a contractor?
Do you receive bonuses, commissions, or overtime? How consistent is that income?
Can you provide recent pay stubs, W-2s, or tax returns?
Self-Employment (if applicable):
How long have you been self-employed?
Can you provide two years of business tax returns and profit/loss statements?
🔹 Funds to Close Questions
Lenders want to confirm you have enough money to cover the down payment, closing costs, and reserves. Questions may include:
Source of Funds:
How much money do you have saved for the down payment and closing costs?…
The skinny
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