When individual(s) apply for a residential mortgage loan, they will be required to provide a wide range of supporting documentation to the lender. This documentation is used to verify the borrower’s income, employment, creditworthiness, and assets, and is crucial in determining whether or not the borrower will be approved for the loan.

Among the most important items of documentation will be proof of income and will likely include:
– Most recent Pay Stubs for 30 days
– Previous two tax year’s W-2s
– Previous two year’s Tax Returns

These documents are used to verify the borrower’s income and employment and to ensure that the borrower has the ability to make their mortgage payments.

Proof of assets  will likely include:
– 2 most recent Bank statements
– 2 most recent/quarterly Investment account statements
– 2 most recent/quarterly Retirement account statements.

These documents are used to verify that the borrower has enough assets to make a down payment on the home and to cover closing costs.

Additionally, borrowers will also need to provide proof of identification and legal residency or citizenship status. This can include:
– Driver’s license
– Passport
– Social security card.

Overall, providing accurate and complete documentation is essential to getting a mortgage loan approved. Borrowers should be prepared to provide all of the necessary documentation and to answer any questions the lender may have about their financial situation. It’s important to consult with a mortgage professional and make sure you understand the documentation required and the process of applying for a loan to avoid any delays.