Lender411.com Articles Mortgage Trends

Link to this page Print RSS  

When you apply for mortgage financing, you must provide the following documentation to the lender before your loan is granted:

• Name and address of landlord(s) for the past two years (if eligible).
• Proof of all income from the past 24 months (tax returns, pay stubs).
• Previous two years' W-2 forms.
• Copy of most recent year-to-date pay stub for all applicants.
• Proof of all deposit accounts, checking, savings, money market, IRA and brokerage accounts.
• Three months most recent statements for deposit accounts, stocks, bonds, etc.
• If you chose to include income from child support/alimony, copies of court records or cancelled checks showing receipt of payments.
• Legible sales contract signed by buyers and sellers (if you have already purchased a home).

Name, address, account number, monthly payment and current balance for:

• Installment loans (including student loans, auto loans, mortgage loans).
• Revolving charge accounts (home equity, credit cards).

If you are self-employed or paid by commission:

• Previous two years Federal Income Tax Returns with all schedules.
• Year-to-date profit and loss statement and balance sheet.
• Corporate tax returns and all schedules.

If you have filed bankruptcy in the last seven years:

• A copy of petition and discharge, handwritten explanation of the reason for bankruptcy, evidence of excellent credit since the bankruptcy.

Link to this page Print RSS