Posts Tagged ‘Lincoln Park’

Many people have a phobia about the documentation needed to get approved for a mortgage. There really shouldn’t be any fear and the paperwork required really isn’t all that bad. When you apply for a mortgage, you should have the following documentation readily available as it will make the underwriting process smoother and faster. You will need to provide your lender with copies of the following documents:

Driver’s Licenses: This is to verify that you are who you say you are…

Proof of Citizenship: Yes, you have to be in the country legally to get a mortgage. If you are a permanent resident, we need your green card. If you are a non-permanent resident, we need the visa to show that you can legally work and live in the US.

Past two years w-2 statements: This corroborates income and work experience.

Most recent 30 day’s paystubs: Your paystubs should so year-to-date earnings and match your income claimed on the loan application. If you are self-employed or commissioned, in lieu of paystubs we will need your most recent two years of tax returns.

Most recent three months statements for savings and investment accounts: Funds available for down payment, closing costs, and reserves need to be verified. The banks will want to see all of your available liquid assets. Any large deposits on the accounts may also need to be explained. If you don’t get paper statements mailed to you, the online printouts are fine as long as your name and bank are clearly legible on the printout.

There may be other documents needed in certain circumstances, but the above is a good start.


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