“I hear about no-doc loans. What documents are normally needed for a full-doc loan?”
***ANSWER:
Here are the items you typically need when you do a full-doc loan application:
– Copy of sales contract
– List of your residences last 2 years
– Employer names and addresses last 2 years
– Copy of last 2 years tax returns
– Copy of last 2 years W-2 forms
– Pay stub covering full 30-day period (indicate YTD)
– Verification of additional sources of income
– Divorce decree (if applicable)
– Social security #s & drivers licenses for all applicants
– Last 3 months bank statements
– List of creditors (ie. car loans, charge accounts)
– Info on cash assets, stocks, bonds, real estate, life insurance
– Check to pay for all credit report and appraisal fees
If you need a good lender, let me know. I work with a great one. For a referral, just call me at (858)457-KENT.
