Understanding Loan Documentation

When it comes to applying for a home mortgage loan, it’s not uncommon to feel overwhelmed or even lost with the amount of information, and with the documentation that is required. This blog post aims at explaining the documentation requirements to help ease the process for applicants.

It is very important to know what to expect and what to focus on. Lenders will want you to provide history of the following. Below is a summary of what the lender expects and how you can help yourself meet the documentation requirements.

  • Your employment
  • Your Monthly Income
  • Assets for down payment and costs
  • Your monthly expenses

Prepare with the following:

  • Paycheck stubs for the past 30 days at a minimum.
  • W2 forms and tax returns for the past two years.
  • Recent bank statements from all your accounts.

Click here to read to the full article.

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