Zillow Advice: Mortgage - Want to buy house for the first time! http://www.zillow.com/advice-thread/Want-to-buy-house-for-the-first-time/518182/ Zillow Advice | Zillow Real Estate Yes, you can use that cash ... http://www.zillow.com/advice-thread/Want-to-buy-house-for-the-first-time/518182/ Yes, you can use that cash for a down payment. So the best thing for you to do now is to speak with a lender directly to qualify for a loan.&nbsp;When you apply for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan.<br/><br/>1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)<br/>2) Credit Report which they will pull<br/>3) Employment History or Business Tax Returns if you're Self Employed<br/>4) Personal assets such as:&nbsp;Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.<br/><br/>These are just a few things you should have ready when you begin your buying process. Well I hope this helps, if you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck! Thu, 07 Nov 2013 19:39:00 GMT http://www.zillow.com/advice-thread/Want-to-buy-house-for-the-first-time/518182/ 2013-11-07T19:39:00Z Congratulations on your decision ... http://www.zillow.com/advice-thread/Want-to-buy-house-for-the-first-time/518182/ Congratulations on your decision to purchase!&nbsp; Yes, you can use funds from abroad but you will need to closely document and source those funds.&nbsp; In this day and age you need to create a paper trail for all funds being used to purchase a home.&nbsp; In your case since you have cash the amount needs to match the amount received from the sale of the other property.&nbsp; Make sure the documentation clearly defines where the money came from and you should be fine.&nbsp; Additionally, funds only need to be "seasoned" for 60 days so as long as you get it in the bank for 2 months before you purchase you will be okay.&nbsp; Good luck and congrats again! Wed, 06 Nov 2013 23:39:00 GMT http://www.zillow.com/advice-thread/Want-to-buy-house-for-the-first-time/518182/ 2013-11-06T23:39:00Z