19. Mortgage loan applications
In order to apply for a mortgage, you will need a number of documents. This may
A copy of the Agreement of Sale on the property you intend to purchase.
Your recent pay stubs, to verify your income
Your recent bank statements, to further verify your income and to show that you
have settlement funds available. If large deposits were recently made, you may be asked to
explain them. The lenders dont want you to borrow settlement funds.
You could be asked for a copy of your most recent federal income tax return, to
further verify income.
You will need to have a list of all your cash assets, all your other assets
such as cars, boats and other real estate, and all your debt accounts, such as car loans,
school loans and credit cards. You will need to show how much is owned on these loans and
what your monthly payments are.