First of all what is your payment schedule going to be over the course of the loan.
Do you want a locked-in fixed payment or variable payment which fluctuates with interest rates? Would you combine a fixed schedule with a possible bonus of lower interest rates in the future?
Do you need the ability to make additional payments without penalty?
Do you need competitive interest rates with low fees and or charges?
Would you like to be able withdraw fund in the future with no fees?
And do you need the flexibility do change or increase your loan in the future?

Answering those questions will help you choose the right loan for your situation.

With the variety of loan options on the market. There is no excuse of your person of your income status to have any issue to securing a loan. But if for whatever reason you find it hard to prove that you made a very high income in the past few years. You can use a low doc loan to qualify. Low doc loans are designed to give loans to those who do may not qualify for a traditional loan plus it comes with a lot less paperwork. You typically do not need any documentation for proof of income, assets, or liabilities. Instead you simply sign an income declaration form stating your past years income and that you have the ability to pay your mortgage. It is much easier but does come with a draw backs.

That is a higher interest rate due to the higher risk level to the bank that eats in your potential profits, a higher down payment which you may have to come up with more money up front and an obligation to pay purchase mortgage insurance instead of having a choice. Now the great news is if you follow the advice we gave you in the last video. You will never have to worry about any of this.