A few questions, thank you for any help:
I was a graduate student until May 2013. If I apply for a mortgage, it seems like they look at my last two paystubs. Do my last year’s tax returns matter?
I get ~50% of my income via a year-end bonus. When calculating the 4-4.5x leverage on my income, I assume it’s by my last two paystubs, annualized, without the bonus?
I understand that at closing, they would want you to have at least 20% downpayment + closing costs + reserves for 6-12 months debt service. For the last item, is it 6-12 or can it be shorter? Is it okay if some of my funds are in foreign bank accounts (ie can show them my statements?)
If I get some contributions from my parents as a ‘loan’, to be returned once my bonus hits in 6 months, how do they know it’s a loan besides being in an account for at least 2 months?
Many thanks and apologies for the many questions.