Re: How do I prove my investment income to the banks?
Posted: Mon Mar 14, 2016 9:05 am
Hello nightelf.
Welcome to the forums.
There are many ways you can prove your investment income for a home loan, which will depend on the bank you're going with.
Generally, you're required to provide printouts of your portfolio and two years' tax returns to show that your investment income is consistent and ongoing. However, there are some lenders that may allow you to borrow even with just a single tax return.
There are also lenders who can settle for expected return documents, which is conservative though, at around 4%.
Please note that you will have to be earning currently from that asset so if you have sold it off then it will not be accepted.
Cheers,
Otto
Welcome to the forums.
There are many ways you can prove your investment income for a home loan, which will depend on the bank you're going with.
Generally, you're required to provide printouts of your portfolio and two years' tax returns to show that your investment income is consistent and ongoing. However, there are some lenders that may allow you to borrow even with just a single tax return.
There are also lenders who can settle for expected return documents, which is conservative though, at around 4%.
Please note that you will have to be earning currently from that asset so if you have sold it off then it will not be accepted.
Cheers,
Otto