Mariana Wagner

Colorado Springs Mortgage Insight: What Documents are Needed When Applying For a Home Loan

FHA Loans:

• 2 years W2’s
• 2 months bank statements
• 2 most recent paystubs
• The most recent copy of asset statements-401K, PERA, etc.

Conventional Loans:

Traditionally, a conventional loan is for borrowers (home buyers) with a more established (positive) credit history that enables the automated system to ask for less documentation. Usually, all you will need is:

• Only need 1 year W2’s
• One pay stub

Self employed borrower (for any loan type):

• 2 FULL YEARS OF COMPLETE TAX RETURNS (not just W2’s)
• 2 years W2’s
• 2 months bank statements
• 2 most recent paystubs
• The most recent copy of asset statements-401K, PERA, etc.

Please Note:

• People who have been divorced will need their separation papers
• Child support will need court ordered documentation as well as 3 months of bank statements to prove the receipt of the support.

(719) 482-7070

November 30th, 2007 by Mariana Wagner | Leave A Comment

This entry was posted on Friday, November 30th, 2007 at 11:52 am and is filed under BUYERS, Colorado Springs Real Estate, Mortgage and Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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