Loan Documentation
Here are the basic paperwork you will likely need when applying for a loan:
❑ W2 earning statements or 1099 DIV income statements for the last two years
❑ Federal tax returns for the last two years
❑ Bank statements for the last few months – showing a balance greater than or equal to the amount you’ll need for the down payment.
❑ Recent paycheck stubs
❑ Proof of other income, such as tips, Social Security payments, etc.
❑ Proof of investment income
source: http://www.myfico.com/loancenter/mortgage/step1/organizepaperwork.aspx
You may be asked for additional information depending on your lender and the type of loan product you are applying for, but this will get you started and make that initial application easier.
For more information on the Home Mortgage Loan process see this site which does a great job of walking you through the ideal process which takes some time:
http://www.myfico.com/loancenter/mortgage/step1/default.aspx
and here's another good resource which identifies even more documents to address more involved situations:
http://www.consumerfinance.gov/askcfpb/150/what-documents-will-my-lender-or-mortgage-broker-request-after-i-have-found-the-right-loan-for-me.html
❑ W2 earning statements or 1099 DIV income statements for the last two years
❑ Federal tax returns for the last two years
❑ Bank statements for the last few months – showing a balance greater than or equal to the amount you’ll need for the down payment.
❑ Recent paycheck stubs
❑ Proof of other income, such as tips, Social Security payments, etc.
❑ Proof of investment income
source: http://www.myfico.com/loancenter/mortgage/step1/organizepaperwork.aspx
You may be asked for additional information depending on your lender and the type of loan product you are applying for, but this will get you started and make that initial application easier.
For more information on the Home Mortgage Loan process see this site which does a great job of walking you through the ideal process which takes some time:
http://www.myfico.com/loancenter/mortgage/step1/default.aspx
and here's another good resource which identifies even more documents to address more involved situations:
http://www.consumerfinance.gov/askcfpb/150/what-documents-will-my-lender-or-mortgage-broker-request-after-i-have-found-the-right-loan-for-me.html