When you have applied for your loan, we will need certain documents from you in order to verify your financial information. Many families feel overwhelmed because of the amount of paperwork that needs to be completed. Knowing what to expect will help ensure a smooth experience and assist you in making solid decisions about your purchase or refinance.
Lenders will request that you provide a history of:
- Your employment
- Your monthly income
- Assets for down payment and costs
- Your monthly expenses
The documents you will need to present to verify these items are:
- 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
- Any other additional document according to your situation
Once your loan officer has obtained all your documentation, your loan will be submitted for processing. At this stage, your employment, income, and assets will be verified and packaged for underwriting. During the processing of your loan, it is important that you do not take out any new credit, quit your job, or buy any new large items.
Buying your new home should be a fantastic experience and that's my goal. Call me today!