There are certain things that are important when applying for loans. Although, every situation is unique, the following documents may be required when applying for a mortgage:
- Copies of the legal description of the property if available as well as other sales contracts documentations indicating the name, address and contacts of the realtors, insurance agents and attorneys involved.
- Copies of pay-stubs, W-2 forms, letter explaining gaps in employment as well as work visa, if necessary
- Documentation of the tax returns for the past two years, profit and loss statements and other necessary documents (for individuals that are self-employed)
- Sources of fund for the down payment such as bank statements, stocks and bonds, gifts based on the information appearing on the application form
- Debt obligations including information of all current debts in the last three months
- If you are paying alimony of child support, ensure to include them stating the terms of the obligation.