When applying for a mortgage, there are many documents you will have to provide the lender.
It's a good idea to start gathering these documents when you begin house hunting.
The necessary paperwork generally includes:
- Federal tax returns from the previous two years.
- W-2 forms from the previous two years.
- A recent paycheck stub that shows your name and Social Security number, the name and
address of your employer and your year-to-date earnings.
- Documents to show other sources of income, which could include a second job, overtime,
commissions and bonuses, interest and dividend income, Social Security payments, VA and
retirement benefits, alimony, child support.
- A complete list of your creditors, such as credit cards, student loans, car loans, child
support payments, along with the minimum monthly payment and the balances.
- Investment records including mutual fund statements, real estate and automobile titles,
stock certificates and any other investments or assets.
- Canceled checks that show your rent payments, or mortgage payments if you already own a
house and are shopping for a new one.
Once you find the home you want to buy, you will need to give the lender a copy of the sale
contract, which lists the price you've agreed to pay for the property.
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