Residential Mortgage Application: The Required Documentation

When you are filling out a residential mortgage application, you are going to have to provide certain documents to the lender. Here are the basics of what documents will be required in most cases.

Income

One of the most important things that you are going to have to provide a lender is income documentation. You have to prove that you make the amount of money that you claimed on your application. In order to do this, you are most likely going to have to provide the lender with several of your most recent pay stubs from your job. You will also have to provide copies of your tax returns for the last two years in many cases.

Assets

You are also going to have to provide information about your assets. In many cases, the lender is going to want to see your most recent bank statements to know how much money you have on hand. Most of the time, the lender is going to want to see how much money you have in reserve in case you are unable to make your mortgage payment with money from your job.

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