Mortgage Calculator Amortization – Dawn Rupersburg Realtor Ocala, Belleview, and Summerfield Florida.
Documentation needed when applying for a loan
Legible copy of driver’s license and social security card
One month current paycheck stubs
W2’s – 1099
Copy of most recent asset statement such as IRA, 40lK, Money Market, CD’s, Stocks, Pension
Gifts for down payment – consult your lender for the document used to verify this
Proof of retirement Income: If you receive social security, you’ll need a copy of the awards letter and a copy of a recent benefit check
Rental income if you have investment properties – provide lease
2 most recent bank account statements
Child support documentation
If you receive alimony or child support, you may need evidence of the income (canceled checks or bank statements)
Employment verification – Employment will be verified twice
Full tax returns all pages and schedules: If you didn’t file your tax returns you will need to let your lender know.
Business tax returns –All pages & schedules
Rental verification – Consult with your lender on what types of verification they will accept.
Current landlords name and contact information
Bankruptcy discharge papers
If you own other real estate, you may need the lease information, property tax and insurance documents
Any assets used for the loan must have a paper trail. Consult your lender as to their guidelines. Some of your deposits may have to be “seasoned” for a period of 60 days, meaning those funds are ineligible for use toward the mortgage until two statement cycles have passed. Then those funds will be eligible.