While traditional income sources like employment are commonly used to qualify for mortgages, incorporating investment income can be a game-changer! Let’s delve into the nuances of how to leverage your investment portfolio to qualify for a mortgage and secure your dream home.
Qualifying for any mortgage requires thorough documentation of your income. If your income strategy involves a blend of traditional and investment sources, or relies solely on investment income, be prepared to substantiate your financial stability. Documentation that verifies asset ownership and demonstrates income consistency will be essential!
To prove ownership: You’ll need to submit account statements in your name that show your fund balance.
To demonstrate income: You’ll need to submit your tax returns from the past two to three years.
Investment income comes in various forms – stocks, bonds, dividends, interest and rental properties – each with its own implications for mortgage qualification. Not all investment incomes are treated equally; for instance, rental income from real estate properties is more likely to count as qualifying income compared to less predictable sources like capital gains from stock sales.
Navigating the complexities of mortgage qualification with investment income requires expertise. Partner with a knowledgeable Pulte Mortgage Loan Consultant can provide insights into the intricacies of leveraging investment income to purchase your new home!
