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...helping to make your mortgage and home loan buying experience a better one.
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Things you may need when you apply for a mortgage.
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It used to be that lenders mailed out verifications to
employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, things move faster. "Alternate documentation" has become more widely used.
Alternate documentation means that underwriting answers
can be obtained with information supplied directly from the borrower instead of waiting around for verifications to come back in the mail. But, there are also stated income, full doc, no doc, lite doc, and no assets programs which will cause a great degree of difference in what items you may need... if you need any at all.
The following (if you were going for a full doc mortgage loan)
lists the items you may likely need to speed the processing of your home loan. Items may differ according to whether your loan is a confoming (Fannie Mae or Freddie Mac), non- conforming (jumbo) loan, government loan, or a portfolio loan. And, whether you're able to go stated income or full doc.
Verifications are still mailed out, but usually as part of quality
control procedures. |
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- Pay check stubs covering the last 30 days.
- W-2's for the previous two years or...
- 12 months of bank statements.
- Verification of rent or mortgage payments.
- Verification of employment.
- If you're self employed, two most recent 1040 tax forms
showing profit/loss of your business, or...
- 12 months of bank statements.
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More mortgage info...
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The Mortgage Match "Buy Your Home" Express Plan.
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1. Get Preapproved.
2. Receive your Preapproval letter.
3. Find a home to buy.
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4. Fax us your purchase agreement.
5. Sign your closing docs.
6. Take title to your new property.
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Click here for a fast and free preapproval.
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