When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house.
How do you prove it?
If it’s certified funds you need to keep a copy of the certified check.
If it was a personal check – you need to keep a copy of the canceled check (front and back).
Don’t give cash!
It’s very difficult to prove that you gave someone cash. If we can’t prove it the underwriter won’t give you credit for it.
That’s it for today!
I hope you have a great day! Thanks for reading!
Brett
Did you know we have a mortgage program that doesn’t require any income documentation when…
Did you know even if you have “challenged” credit you can still get a low…
If you receive money from the State or a County sponsored organization for providing foster…
I wanted to address the two most common questions that I get regarding reverse mortgages……
If you purchased a home using your own cash, and now would like to pull…
I wanted to let you know we have a 2% to 5% downpayment and closing…
