What documents do I need to provide for a mortgage application?

When applying for a mortgage with Taylor Bean & Whitaker, several documents are typically required to ensure the application process runs smoothly and efficiently. Applicants can generally expect to provide personal identification documents, such as a government-issued photo ID and perhaps a Social Security number. Proof of income is essential, and this usually includes recent pay stubs or wage statements, tax returns for the past two years, and W-2 forms. If the applicant is self-employed, they may need to provide additional financial statements or business tax returns. It is also important to demonstrate an understanding of financial obligations. This may involve providing documents that detail monthly debts, such as credit card statements, student loans, and any existing mortgage statements. Additionally, bank statements from the past two to three months will be necessary to assess assets and savings. For applicants who have recently been through major life events, such as divorce, relevant legal documents may be needed to confirm changes in financial responsibilities. Furthermore, if the applicant has invested in properties or has a rental income, documents related to those assets may be required as well. To ensure that all current requirements are met, individuals looking to apply for a mortgage may find it helpful to visit the official Taylor Bean & Whitaker website, where they can find the most updated information regarding documentation needed for a mortgage application. Having all necessary documents prepared will contribute to a smoother application experience.