Documentation
The purpose of verifying the information on your application with documentation is use this documentation to determine a borrower’s ability to repay the mortgage. Formal verification will require the borrower to submit the following items to the lender for review prior to approval.
- Last 2 years W2’s
- Pay stubs covering the past 30 days
- Home owner’s insurance declarations page
- Most recent 2 months of asset statements I.E. stocks, bonds, 401K, savings etc.
- Most recent mortgage statement for all mortgages
- Copy of your drivers license
- Last two years tax returns ONLY IF SELF EMPLOYED
- Last two years business license (or CPA letter) ONLY IF SELF EMPLOYED
|
