10 Things A Lender Needs From You

When putting together your mortgage application your lender will request documentation to verify the information stated on your application. Some of the documents they request are likely to include:

1. Income documentation such as form W-2s, social security or pension statements, or tax returns.

2. Asset documentation such as statements from checking, savings, and investment accounts.

3. Documentation showing you are currently employed such as pay stubs. During underwriting the mortgage company will also call your employer to verify your employment and current salary.

4. Employment history going back at least two years.

5. Residence history going back at least two years.

6. Liability documentation showing all of your current debts. This can generally be found on your credit report.

7. Your current credit score. This can be found by pulling your credit report, which your mortgage representative will need your permission to do.

8. If using money given to you as a gift you may need a gift letter from the person giving the funds.

9. If you are self employed you may need a letter from your accountant with information on your income and the state of your business, as well as a copy of your business license.

10. If you are divorced or separated you may be asked to provide a divorce decree or separation agreement detailing the terms including any alimony or child support you are due to pay or receive.

Additional Mortgage Application Resources:

Mortgage Application Checklist
When To Lock In An Interest Rate
What To Do Before Applying For A Mortgage
Understanding Credit Scoring

Learn even more in the Mortgage Education Center

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