Jeff Stempler

Mortgage Loan Originator

NMLS #171047
More
Jan 23 2018
Jeff
21 posts

Mortgage Documents

When lenders request Mortgage Documents it seems like we ask for everything, starting with your 3rd grade report card. Today, on Mortgage Mythbusting, I’m explaining what is really needed (not a DNA test!). My goal is for every home buyer to feel empowered and educated.

Mortgage Documents

Mortgage Documents Needed

Generally, we need the following from all borrowers:

  • Driver’s License or Government Issued Photo ID: This is to confirm who you are!
  • Social Security Card, if available: Your number confirms that we have the correct person’s credit report and federal tax returns.
  • Paystubs covering most recent 30 day period: We use these to verify your earnings. You will need to include 3 pay stubs in order to cover 30 days, if you are paid bi-weekly.
  • Borrower’s Authorization: We will send you this form, to sign and return. After we receive it, we contact your employer to confirm your current earnings and employment. This gives us break down of your pay categories, such as commissions, bonuses, overtime, etc.
  • W-2 and/or 1099 forms from the previous two years: These forms confirm your past earnings. Also, we can see if your salary has increased/decreased over time. If you don’t have these, your employer may be able provide them, if not we may be able to assist.
  • Most recent 2 years of federal tax returns with all schedules coinciding. These give us a more complete understanding of your income, and allow us to determine whether there are any loses we need to consider.
  • Bank, investment and retirement account statements (all pages) for previous two months or
    most recent quarterly statement. The statements show us your assets. Please be sure to include all pages, even those left intentionally blank.

Special Cases:

  • If you own other real estate, please provide the following for each property:
    • Current mortgage statement
    • Property tax bill
    • Declarations page of current home owner’s insurance
    • Evidence of HOA or condo dues, if applicable
  • Retired persons should include documentation of income received
  • Self-employed individuals will need to contact us to learn the specific documentation required, as it varies upon how business is structured.

Generally, this list represents the majority of the mortgage documents needed. Please submit documents quickly, if we contact you for additional informationYou do not want to delay your settlement.

If you have questions, please feel free to reach out.

Want to know what my past clients are saying? Please go to Zillow, to read their reviews of my team.

If your property has been affected by a hurricane, please visit HomeBridge’s Hurricane Resource Center.