Most people enjoy getting a new mortgage loan about as much as the proverbial “pulling teeth.” Today, mortgages are even more complicated than ever before, but many of the critical components that lead to a loan approval are still the same as they were in the past. A purchase money loan or a refinance have essentially all of the same working parts. Even so, the paperwork requirement and never ending requests from the lender can be overwhelming. This process has not become any easier but there are steps that can be taken to reduce stress and make the process as efficient as possible. Chances are that the loan officer will provide a list of documents that are required. Most of the common items on the required list include: Two-year employment history (tax returns, W2s, 1099s, etc.) • Current pay stubs • Application (1003) • Statements • Identification (Driver’s License or State-issued ID cards) • ...
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