How to Live Off Investments

"Hello, my name is Brett Staggs and on behalf of Expert Village, I am here to show you how to organize your income and assets for a first time home buyer. When applying for your first home loan and you happen to be a person who is living off of investments, have no fear. You basically need to just be extremely organized with all of your documentation for all of your different investments and how much proceed is actually coming into you from those investments. Because a bank will look at that as your actual income. In fact on a loan application, under the income section there is a part for income off of investments. So you need to be very aware of how much you actually make per month from your investments. Be very prepared to show all of your documentation. And again if you have a packet of documentation from one of your investments, usually the first page will say page one of four or page one of six, whatever it is and you have to make sure you have every single page for that investment. Because they will ask for all pages, if you only give them the pages that shows how much is in there, because they want to know how much is coming out into your actual bank account, AKA your income. So your best friend, if you live off of investment is going to be all of your documentation, be very organized, scan it into your computer, save in a file, some place very safe because that will be your ticket for getting approved for a home loan."