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You have calculated your down payment and know exactly how much money you plan to bring to the purchase. That is an important step, but there is another question buyers sometimes overlook: Where is that money actually coming from? A $40,000 down payment sitting in one savings account can create a different planning process than $40,000 being assembled from several different financial sources. Your Down Payment May Come From Several PlacesNot every buyer saves a down payment in one traditional bank account. Funds might come from checking or savings, investments, proceeds from selling an asset, an eligible gift, or other…

An accessory dwelling unit can make a property especially appealing. A detached guest house, converted garage, basement apartment, or backyard unit might provide space for relatives, a home office, or potential rental income. But when you are financing the purchase, that additional living space can introduce questions that would not necessarily exist with a more traditional single-family home. The Property Has to Be Evaluated TooMortgage approval is not based solely on the borrower's income, credit, assets, and debts. The property securing the mortgage also has to meet applicable requirements. When an ADU is present, the lender and appraiser may need…