Mortgage Documentation Requirements

Documentation requirements vary by the lender and the individual circumstances of the buyer, but generally speaking, you will be asked for paperwork that shows your income, your assets and any regular commitments against your income.

Standard documentation requirements include:

• Thirty days of pay stubs that show income as well as year-to-date income. Your lender may also call your employer to verify you are still employed.
• Two to three years of federal tax returns.
• Sixty days or a quarterly statement of all asset accounts including your checking, savings, and any investment accounts to prove you have funds sufficient for the down payment and closing costs on the home, as well as cash reserves.
• Two years of W-2 statements.
• Proof of any additional income such as alimony or bonuses.
• Driver’s license or state ID card.
• Social Security Number.
• Buyer’s signature authorizing the lender to pull a credit report.
  

Depending on your unique circumstances, you may be asked to provide additional paperwork above and beyond the standard documentation requirements.

In the event there are additional documentation requirements, your mortgage banker will keep you in the loop as those needs arise, and the more quickly you can satisfy them, the more smoothly the mortgage process will be.