| 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.
|
