We’re thinking about buying a new house. The real estate agent we talk to has his own preferred lender, of course. It seems that this lender is asking for an excessive amount of financial documents. Or maybe I’m out of touch.
What this lender wants to see:
[ol][li]2008 and 2009 complete tax returns, fed only and all pages.[/li][li]2009 and 2010 w2’s.[/li][li]2 current paystubs.[/li][li]2 months bank statements, all pages and all accounts.[/li][li]Recent copy of your 401k Plan or IRA statements if applicable.[/li][li]Copy of your driver’s license.[/li][li]Copy of your current mortgage statement to reflect you housing payments.[/li][/ol]
I did a quick websearch, and this site: Loan Documents Needed to Apply For a Loan says you need to supply these documents:
[ol][li]Proof of Employment and Income (a recent check stub)[/li][li]Last year’s W-2 forms[/li][li]Last 2 years of income tax returns[/li][li]A copy of your most recent mortgage statement[/li][li]A recent bank statement[/li][li]A copy of the home purchase contract (if applicable)[/li][/ol]
I don’t see why the lender would need a copy of my 401K plan or IRA statements. And is it standard to ask for a copy of the driver’s license?