Dorcas Miller - MLS Homes Property Real Estate for sale in Acton, Carlisle, Concord, Lincoln, Maynard, Sudbury, Westford, MA

What A Lender Needs From You

Buying a home? Lenders need a lot of information before they will commit their money to you. It takes a lot of effort on your part to provide that information, but these are the items that will probably be requested for every person signing the loan:

1. W-2 forms or business tax returns if you are self-employed. If you are self-employed, you may want to shop around for a lender that retains their loans in-house. The secondary lending market has many extra requirements for the self-employed.
2. Copy of at least one pay stub.
3. Copy of two to four months of bank statements for both checking and savings accounts.
4. Copies of personal tax forms for the last two to three years.
5. Brokerage account statements for two to four months, and a list of other major assets of value, e.g. a boat, RV, or other property.
6. Copy of your most recent 401k or other retirement account.
7. Documentation to verify additional income.
8. Account numbers of all your credit cards and the amounts of any outstanding balances.
9. Lender, loan number, and amount owed on other installment loans such as student loans and car loans.
10. Addresses of where you have lived for the last five years, with the name of landlords if appropriate.