Posted on: 24th Aug, 2012 12:36 am
I am planning to move with a friend of mine. This is because I need to save some money for my mortgage down payment. I am planning to buy the property in the next Spring. It will be a sublease and I will be paying friend with a personal check every month. What besides these canceled checks will I need for proof when I go to submit docs for app? I'm planning to go for a FHA loan.
Hi Shordy!
Welcome to forums!
As far as I can understand, the cancelled checks will prove the fact that you have made the payments. You can also ask your friend to provide you with a letter mentioning the fact that you have made the payments on time.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I can understand, the cancelled checks will prove the fact that you have made the payments. You can also ask your friend to provide you with a letter mentioning the fact that you have made the payments on time.
Feel free to ask if you've further queries.
Sussane
Above poster is correct. Generally the lender will want 12 month rating, so if you do not have 12 months checks from this living situaion, you can get a VOM or verification of rent from your previous rental, or show cancelled checks on that unit as well...Good luck
