topic Re: Documentation in Mortgage Loans

Documentation

jonjohn — Thu, 13 Jun 2013 19:33:58 GMT

I apologize if this is in the forums somewhere, but I can't find it.

I haven't applied for my mortgage yet, but I want to have everything ready so I can hit the ground running.

I know I need 2 months of bank statements. Do I also need just 2 months of pay stubs?

How many years of W2s do I need to have. And, is it only W2 or do I need the entire tax documents?

Thanks

Re: Documentation

Anonymous — Thu, 13 Jun 2013 19:40:35 GMT

I would bring 30 days of pay stubs, your last two W-2's, and your tax returns from the last two years.

Re: Documentation

jonjohn — Mon, 17 Jun 2013 20:35:12 GMT

No bank statements yet?

Re: Documentation

pdog661 — Mon, 17 Jun 2013 20:41:55 GMT

Hi,

You can do it a few ways.

Discover home loans will pre-approve you based of a credit pull only.

You will need the following documents to gain a non-conditional pre approval.

Docs:

2 months of bank statements - this goes for each account you will be counting as reserves, or down payment. 401k, pensions, CD, etc

4 weeks of pay stubs

2 years of w-2 information

copies of driver licenses

1-2 year(s) of tax returns. This depends on whether or not your income includes a bonus, overtime or commission plan. If you are a straight w-2 employee with no income beyond a straight salary then 1 year will work.

These are the common ones. Some banks may require additional documents depending on your financial picture, and income sources. They will give you a check list they need based off of your conversation.