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Materials for Your Mortgage Application

Posted on March 17, 2014

Couple in office signing contractual documentsYou have found a house and now you find yourself applying for a mortgage. Do you have all the documentation that you need? You would be surprised to find how much information is needed during the application process.

Tax refunds, pay stubs, financial statements and the list goes on. You will be required to provide full tax refunds from the past two years. If you do not have these on hand, file a 4506 Form with the IRS before you head to lenders looking for a loan. Unfortunately, your past two pay stubs will not be enough to verify current employment. You will need written confirmation of your position and salary on a company letterhead.

In addition to your pay stubs and financial statements from the past two months, you will need a photo ID and signed sale contract. The signed sale contract is only needed when you finally make an accepted offer on a residence. Do not forget your homeowners insurance either. It is important to consider timing in securing a policy, as lenders will not give you a loan if you do not insure your home first.

For more information in securing a mortgage, contact real estate professional, Brad Shoults at 850-269-9999.

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