You’re getting a mortgage … what kind of paperwork do you need?
The answer? A lot. But not as much as you might think, and it’s somewhat dependent upon (1) the lender you’re using, (2) the type of loan you’re getting, and (3) some unknown force of the universe.
Getting a mortgage isn’t terribly hard, it’s just tedious. So when you’re preparing to make a loan application with a lender, it’d be a good idea to have all documentation related to your income, your expenses, and your assets, at hand – ’cause they’ll want to see everything. Have:
- at least two years of your tax returns (three or more if you’re self-employed), including all W-2s and 1099s. Two month’s worth of pay stubs, as well.
- bank statements. The rule of thumb used to be three months worth of bank statements, but I like being prepared – have six months.
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