Down Payment
The amount that you allot as your down payment will determine the interest rate that you will be getting. The higher you put out, the better in the eyes of the lender as being able to pay a sensible portion of your debt makes you a responsible payer. Moreover, you might also be asked about the source of the money that you will be paying; whether it’s from your own income, a gratuitous donation or a grant from a non-profit organization.
While lenders have the right to deny your proposal if they deem your financial status unfit, remember that you choose your lenders. Make sure to seek loans only from the most reputable Virginia mortgage companies that can give you an affordable rate.
http://virginia.churchillmortgage.com/info-article/questions-that-mortgage-companies-in-virginia-will-undoubtedly-ask-you/
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