When you apply for a mortgage, your lender will ask for various documents to verify the information you provided on your mortgage application. To avoid stalling the loan process, it's a good idea to have these documents gathered beforehand.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
Your mortgage lender uses the following documents and information to verify your employment, available funds, and the home you are wishing to finance.
- Contract for purchase
- Contract for sale (if applicable)
- Last 2 years W-2's and tax returns, all schedules
- Last 30 days pay stubs
- Last 2 months bank statements, all pages
- Loan payment information (car, boat, etc.)
- Divorce decree (if applicable)
- Evidence of alimony or child support (if applicable)
- Earnest money deposit receipt
- Attorney/realtor contact information
- Business tax returns and certified profit and loss statements (if self-employed)
- Application fee
- Drivers license and social security card (for FHA loans)
Not all items listed above are applicable to all loan applications. Your lender may ask for further documentation for certain loans and borrowers.
For more questions about the necessary documentation need for a mortgage, contact one of our mortgage bankers. If you're looking for additional information about the home buying and financing process, download our free Mortgage 101 Handbook, a great resource for first-time homebuyers.