When you’re asking the bank to loan you money to purchase a home, you are likely asking them for a lot of money. The size of mortgage loans is part of the reason why lenders ask for so much paperwork to process your loan. Let’s face it, they can’t just take your word for it. The following is a list of documents you may be asked for when applying for a mortgage loan.
- W-2 forms — or business tax return forms if you’re self-employed — for the last two or three years for every
person signing the loan.
- Copies of at least one pay stub for each person signing the loan.
- Account numbers of all your credit cards and the amounts for any outstanding balances.
- Copies of two to four months of bank or credit union statements for both checking and savings
- Lender, loan number, and amount owed on other installment loans, such as student loans and
- Addresses where you’ve lived for the last five to seven years, with names of landlords if
- Copies of brokerage account statements for two to four months, as well as a list of any other major assets of
value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
- Copies of your most recent 401(k) or other retirement account statement.
- Documentation to verify additional income, such as child support or a pension.
- Copies of personal tax forms for the last two to three years.