Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-11-2012, 09:30 AM
 
8,411 posts, read 7,424,439 times
Reputation: 6409

Advertisements

I have dividend and interest income. I've seen some mortgage calculators include this as income calculation. How and when do lenders consider this as income for mortgage purpose?
Will I only need to show brokerage statements and tax returns?
Reply With Quote Quick reply to this message

 
Old 08-11-2012, 01:36 PM
 
Location: MID ATLANTIC
8,674 posts, read 22,922,371 times
Reputation: 10517
2 years tax returns and evidence the assets still exist.

If you will be using any portion of those assets for your purchase, the proportionate income will be deducted. So say you use 25% of your assets to make the purchase, the dividend and interest income will be reduced by 25%. If you are liquidating much of the assets (over 70%), that income will be heavily scrutinized.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads

All times are GMT -6. The time now is 08:46 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top