Showing proof of income?

[Richard C.]

Hey all,

I have newbie question here. When trying to get a loan/mortgage for a property I'm assuming they will ask you for income proof or tax returns to see how much you're making and what can you qualify for, etc. My question is what if you have a good amount of savings saved up over the past couple of years for a down payment and also an excellent credit score,  but don't have a lot of income showing on your previous yearly tax returns? How are you still able to obtain the property with little income to show for, but a lump of cash in savings?