With so many different types of loan programs available, borrowers are often not clear as to what documentation will be needed to obtain a mortgage loan. Different lenders often have different requirements for mortgage loan documentation which can leave a borrower feeling confused.
Mortgage specialists may also differ in what they feel is the best way to obtain a mortgage at the lowest rate for a specific borrower. The first step is to obtain and complete a home mortgage loan application from the company or companies that you feel comfortable working with. We offer you the ability to apply for loans online as well as the ability to speak with us first, and then apply for a home loan.
So what mortgage loan documents will I need after completing the loan application?
Mortgage loan documents for your current mortgage/s.
Pay stubs and W-2's or CPA letter / Business licenses for self employed borrowers
The amount of documentation may be as little as your current mortgage statement and homeowner's insurance information depending on the type of loan you qualify for. These are the basic documents that lenders will require with most home mortgage loan applications.
Mortgage documents needed vary in these different loan programs:
No Doc Loans and No Doc Mortgages
Full Docs Loans and Full Doc Mortgages
Stated Income Loans and Stated Income Mortgages which require verification of Assets
Stated Income / Stated Assets Loans and Stated Income / Stated Assets Mortgages which require no evidence of income or assets but do require employment verification
No Ratio Loans and No Ratio Mortgages
Apply for a home mortgage loan online and find out more about these programs. We will be happy to help you determine what you qualify for and what type of mortgage will work best for you as well as the mortgage documents needed to gain an approval.
