Home Loans
Full Documentaion Mortgages: Paperwork Needed
(presented by www.refinance-refinance.net - mortgage lenders)
By Matthew Keegan
When applying for a mortgage, the amount of documentation required by mortgage providers from borrowers can vary widely. Depending on the mortgage, you could be required to provide full documentation or no documentation or something in between. With the latter category, the mortgage company simply relies upon your credit score and your credit history to determine if you qualify for a loan.
Concerning a full documentation mortage, you will be required to provide the following information about your personal finances:
*Your most recent pay stubs — the last two or three, typically.
*W-2 forms from the last two tax years.
*Bank statements for the past 2 or 3 months, i.e. checking, savings, etc.
*IRA, 401(k), SEP statements going back as long as 6 months to one year. Quarterly statements are generally acceptable.
Always, your mortgage provider will give you a check off list of documents needed. By following the list closely, you can assure that your loan is processed quickly and accurately.
Copyright 2006
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