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Which financial statements for a conventional mortgage?

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Which financial statements for a conventional mortgage?

In a few months, I'll be applying for a conventional mortgage. All three mortgage scores are above 750. I've been at the same employer for over 5 years. DTI under 20%.  I know they will want things like W2s and tax returns.  Do you know which financial statements will most likely be requested?

 

-I have 2 checking accounts and 1 money market account at Bank#1. I designated one of the checking accounts to hold and season all of my mortgage related money. Will they need to see statements from all 3 accountss or just the one with the mortgage money?

-At Bank#2, I just have a small savings account. Will they want this statement?

-I also have a 401k, an IRA, and a separate brokerage account. Will they need these statements?

 

What should I expect?

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Community Leader
Super Contributor

Re: Which financial statements for a conventional mortgage?

Yes to the checking and savings account statements.

 

Only yes to the 401k, IRA, and brokerage account if you are using funds from those accounts for your downpayment and/or closing.

 

 

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New Contributor

Re: Which financial statements for a conventional mortgage?

Thanks for the response. How many months will they want? The last 60-90 days?

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Community Leader
Super Contributor

Re: Which financial statements for a conventional mortgage?

For me it was the previous 3 months.

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
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