What paper work do I need to buy a home with a cash savings?

Answers:2   |   LastUpdateAt:2012-08-11 19:01:02  

Question
Sri Lanka
Asked at 2012-08-08 19:17:03
First scenario
I saved a few years worth of salary and found a house you can buy. Do I need any proof of that money ? Or I can just buy ?

Second scenario
That also may not have enough for closing costs and perhaps a few thousand dollars less. Is it just a big down payment and get the rest on loan ? The same paper work on stage one?

thank you very much
Answer1YalinAnswered at 2012-08-10 08:34:03
If you have the cash, only have documentation showing that ( bank statements , etc.). Most lenders will not write mortgages for less than $ 50,000. Just not worth it for them.
Answer2Sammy JAnswered at 2012-08-11 19:01:02
Ask your bank for more information on the Arrea .
Related Questions
1
  • Answer This Question:What paper work do I need to buy a home with a cash savings?