Here’s the deal. Every lender requires specific documentation in order to approve you for a mortgage loan. Below I’ve highlighted the main ones.
First and foremost, they need your W-2 Tax Returns. Typically, they’ll want to see the last two or three years for every person who’ll be signing the loan. Next are your pay stubs. Again, pay stubs for each person signing the loan. Two to four months of bank statements are added to the mix as well. Both checking and savings accounts. Any outstanding debt will need to be verified. So student loans, credit card debt and car loans. They typically want the loan number, who the lender is, and the total amount owed on those loans. Obviously your standard information like your current address, information on previous addresses, landlord information to ensure you have never defaulted on a lease, and things of that nature. Then if necessary, they may need to verify additional income like child support or pensions.
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