• About
  • Advertise
  • Privacy & Policy
  • Contact
Stories from SWNS
Advertisement
  • Home
  • News
    Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

    Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

    Miners stunned after discovering amazing Amethyst heart in lump of rock

    Miners stunned after discovering amazing Amethyst heart in lump of rock

    “It was worth every penny” –  Kind-hearted plumber spent £57K helping vulnerable families fix their heating for FREE during pandemic

    “It was worth every penny” – Kind-hearted plumber spent £57K helping vulnerable families fix their heating for FREE during pandemic

    Lunar photographer takes pictures of the moon every night for a month – to show in world’s most vivid detail the extent the moon moves during each orbit

    Lunar photographer takes pictures of the moon every night for a month – to show in world’s most vivid detail the extent the moon moves during each orbit

    Moment entire roof on massive house COLLAPSES under the weight of heavy snowfall

    Moment entire roof on massive house COLLAPSES under the weight of heavy snowfall

    Shielding man who died of Covid leaves behind incredible legacy – six children who ALL work for the NHS

    Shielding man who died of Covid leaves behind incredible legacy – six children who ALL work for the NHS

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Business
  • Life
    • Celebrity
  • Tech
    Spending More Time Online? How to Make the Most of Your Time

    Spending More Time Online? How to Make the Most of Your Time

    Why Now More Than Ever Healthcare Needs To Go Digital

    Why Now More Than Ever Healthcare Needs To Go Digital

    The Impacts of Technology in the Casino Sector

    The Impacts of Technology in the Casino Sector

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How Can Robots Take Their Place in Casinos?

    How Can Robots Take Their Place in Casinos?

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
  • Home
  • News
    Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

    Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

    Miners stunned after discovering amazing Amethyst heart in lump of rock

    Miners stunned after discovering amazing Amethyst heart in lump of rock

    “It was worth every penny” –  Kind-hearted plumber spent £57K helping vulnerable families fix their heating for FREE during pandemic

    “It was worth every penny” – Kind-hearted plumber spent £57K helping vulnerable families fix their heating for FREE during pandemic

    Lunar photographer takes pictures of the moon every night for a month – to show in world’s most vivid detail the extent the moon moves during each orbit

    Lunar photographer takes pictures of the moon every night for a month – to show in world’s most vivid detail the extent the moon moves during each orbit

    Moment entire roof on massive house COLLAPSES under the weight of heavy snowfall

    Moment entire roof on massive house COLLAPSES under the weight of heavy snowfall

    Shielding man who died of Covid leaves behind incredible legacy – six children who ALL work for the NHS

    Shielding man who died of Covid leaves behind incredible legacy – six children who ALL work for the NHS

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Business
  • Life
    • Celebrity
  • Tech
    Spending More Time Online? How to Make the Most of Your Time

    Spending More Time Online? How to Make the Most of Your Time

    Why Now More Than Ever Healthcare Needs To Go Digital

    Why Now More Than Ever Healthcare Needs To Go Digital

    The Impacts of Technology in the Casino Sector

    The Impacts of Technology in the Casino Sector

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How IoT Is Shaping The Various Aspects Of The Healthcare Industry?

    How Can Robots Take Their Place in Casinos?

    How Can Robots Take Their Place in Casinos?

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Three Elearning Trends That Point To The Importance Of Mobile Learning Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
Stories from SWNS
No Result
View All Result
Home Blog

Factors That May Require You to Have Additional Paperwork Before Getting a Mortgage

by
March 3, 2017
in Blog
1
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

If you have never applied for a mortgage before, you could experience some shock when you realize the type and amount of documentation you will need to give to the lender. For some, it will be pretty easy to get the required documentation, and for others, it will be an absolute nightmare.

Individuals who are considering purchasing a house in the future should get into the practice of saving financial documents in case they need it when they are ready to buy a house.

There is some initial paperwork that lenders generally ask for such as:

  • Pay stubs for the past month
  • State and/or federal tax returns (last two years)
  • W-2s (last two years)
  • Report of assets (past two months)

Individuals who are trying to get home mortgage loans or refinancing loans may be required to submit additional information like:

  • Any pages that are missing from their tax returns
  • Any pages that are missing from banking statements
  • A paper trail of their finances
  • Dates for past negative credit circumstances (dates must be specific)
  • An MSA (martial settlement agreement) if you are divorced
  • Additional details for any information that seems incomplete or inconsistent

It is wise to provide any paperwork the lender requests from you as quickly as you can. If you delay in submitting the information, your locked in interest rate may be delayed. Always remember that an excellent credit score will help qualify you for the best conditions and terms related to your mortgage, and you may even be able to receive a bigger mortgage. You can request your credit score for free once a year to find out your credit standing.

To help you determine what you need, it is important to consider the following factors.

Undocumented Money

Is there any extra money in your bank account that is not considered income? If so, you will need to provide the lender with a paper trail specifying the source of the money. You will also need to inform the lender if you plan to include this money during the home buying process or not. A reputable lender cannot ignore any money in your account that is not documented.

Previous Foreclosure

Depending on the mortgage lender you are working with, the lender may ask you to provide paperwork showing an improvement in your credit score, court documents and deeds. Any applicants that have a foreclosure on their credit history will need to show a trustee’s deed that indicates the date of sale.

Applicants that have filed for either Chapter 7 or Chapter 11 bankruptcies will need to provide lenders with all paperwork related to the bankruptcy. Important documents to include are the date of discharge and the itemization schedule of the creditors. Do not be surprised if the lender also asks for a statement from you explaining why you had to file bankruptcy.

If you have gone through a short sale, the lender will ask for paperwork regarding the final settlement.

Divorce

If you have ever been divorced, even if it occurred a decade ago, the lender may request a copy of the entire divorce decree with all the schedules and pages. The lender may even ask for the settlement agreement.

Although you may check the ‘single’ box on your loan application, do not be surprised if the lender decides to run a background check to determine if you have any previous names, addresses or marital status. This means that if you do not provide the divorce decree in the beginning of the application process, the lender may request one after conducting the background check.

Non-U.S. Citizen

The underwriter for your loan will likely ask for your birth certificate if you are not a citizen of the United States or you do not have photo identification. If you are a non-citizen, you will have to provide proof of your legal residency status.

The one way to prevent delays regarding your birth certificate is to carefully go over the loan application and double check that you answered the questions correctly.

Loan Modification

Individuals usually attempt to get loan modifications in an effort to prevent foreclosures. This means that if you are applying for a mortgage and you have previously had a repayment plan or forbearance, the mortgage lender may want to see the loan modification agreement that was previously approved.

Lenders do not want to know every minute detail of your life before you applied for a home loan, but when you have the right paperwork ready, you will save yourself headache and frustration. After you are ready to move forward, the lender will be ready to help you secure a mortgage.

Previous Post

Easy Ways To Improve Your Fitness And Grades At College

Next Post

Parents Call For Research Into HVP Jab After Teen Daughter Is Left Paralysed

Next Post
Parents Call For Research Into HVP Jab After Teen Daughter Is Left Paralysed

Parents Call For Research Into HVP Jab After Teen Daughter Is Left Paralysed

Comments 1

  1. whatsapp web says:
    4 years ago

    Great to come to your site as the information shared is good and is explained in simple words. Good stuff you are created, thank you for sharing a nice article.
    http://appsforsys.com/whatsapp-web-for-pc-laptop/

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 79 Followers
  • 43k Followers
  • 93.2k Subscribers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Women love cheesy chat up lines, a study has revealed

Top 20 cheesy chat-up lines ladies really love

March 5, 2014
The top ten most well-known bingo phrases

The top ten most well-known bingo phrases

January 21, 2014
The horses thunder towards a jump at the Grand National

Amazing racehorse names which never made it

April 23, 2014
HGH Injections Brands: Which Ones Are Best?

HGH Injections Brands: Which Ones Are Best?

January 14, 2019
Chris Fear, 33, outside the Coral betting shop which is refusing to pay out on his 485/1 winning bet

Boycott Coral! Bookmaker faces protest after refusing to pay out on a football fan’s 485/1 bet

184
Women love cheesy chat up lines, a study has revealed

Top 20 cheesy chat-up lines ladies really love

147
Women feel invisible to the opposite sex at the age of 51, researchers found

Women begin feeling invisible to men ‘when they turn 51’

138
UKIP candidate claims Jews murdered each other in the Holocaust in masterplan to create State of Israel

UKIP candidate claims Jews murdered each other in the Holocaust in masterplan to create State of Israel

105
How Have Death-Related Businesses Done During COVID-19?

How Have Death-Related Businesses Done During COVID-19?

January 18, 2021
Why Reputation Matters: the FreshairFitness Difference

Why Reputation Matters: the FreshairFitness Difference

January 15, 2021
Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

January 15, 2021
Miners stunned after discovering amazing Amethyst heart in lump of rock

Miners stunned after discovering amazing Amethyst heart in lump of rock

January 15, 2021

Recent News

How Have Death-Related Businesses Done During COVID-19?

How Have Death-Related Businesses Done During COVID-19?

January 18, 2021
Why Reputation Matters: the FreshairFitness Difference

Why Reputation Matters: the FreshairFitness Difference

January 15, 2021
Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

Poundland obsessed five-year-old becomes only child ever to be sent official Poundland uniform and employee of the month badge

January 15, 2021
Miners stunned after discovering amazing Amethyst heart in lump of rock

Miners stunned after discovering amazing Amethyst heart in lump of rock

January 15, 2021
SWNS

SWNS all rights reserved. Copyright 2020

Follow Us

Browse by Category

  • Auto
  • Blog
  • Business
  • Celebrity
  • Gaming
  • Life
  • Lifestyle
  • News
  • Pictures
  • Property
  • Review
  • Sport
  • SWNS
  • Tech
  • Travel
  • Uncategorized

Recent News

How Have Death-Related Businesses Done During COVID-19?

How Have Death-Related Businesses Done During COVID-19?

January 18, 2021
Why Reputation Matters: the FreshairFitness Difference

Why Reputation Matters: the FreshairFitness Difference

January 15, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Real Fix is a trading style of South West News Service Limited.
Copyright © 2020 South West News Service Limited.

No Result
View All Result
  • Business
  • Life
  • Celebrity
  • Sport
  • Blog
  • Auto
  • Tech

Real Fix is a trading style of South West News Service Limited.
Copyright © 2020 South West News Service Limited.