When you apply for a mortgage, the lender is going to do a thorough review of your finances. You’ll need to provide proof and documentation of your income, debts, and assets. Here’s a list of just some of the data you’ll need to give the bank, according to Bankrate:
- Proof of income, including W-2 forms, tax returns, and pay stubs
- Earnings outside your regular job, including rental income, alimony, or child support
- Debt information, including outstanding balances and monthly payments for loans, credit cards, or other debts
- Information about assets like bank accounts, investments, and retirement accounts
Zillow says you will also need to provide:
- Name, birthdate, Social Security Number, and phone number for all loan applicants
- Whether you’re married and how many kids you have
- Your residence history for the past two years
- Whether you have any bankruptcies or foreclosures in your history
- Whether you’ve cosigned on another loan
As always, exactly what is needed may vary from lender to lender. Your lender will let you know specifically what information it needs and what documentation you have to provide.
