Mortgage Monday: What Information Will My Lender Want

What Information Will My Lender Want?

The information that your lender will want to get from you, is dependent on your situation.

If you are employed by a business, then you will need the following information;

1. Pay stubs for the previous month.

2.W2’s for the previous 2 years.

3. Bank statements for the previous month.

If you are self employed or a business owner;

1. Full tax returns and 1099’s with all schedules for the previous two years.

2. Current Profit and Loss Statement and balance sheet.

3. Bank Statements for the previous month.

These and other documents may be required by your lender to get you pre-approved for a loan. This will let you know how much you will be able to afford when looking for a home. Remember that you need to be pre-approved for a loan before you make an offer on a home. The pre-approval letter will need to be submitted with the offer to purchase the home.

Be sure to contact your lender to see if they need any further documents or statements.

 

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