What documents will I need to provide for the mortgage application?

When applying for a mortgage with Wells Fargo Home Mortgages, individuals generally need to provide a variety of documents to support their application. The exact requirements may vary based on the specific loan program and the applicant’s financial situation. However, there are common documents that most borrowers will need to gather. First, proof of identity and legal residency is important, so applicants typically need to provide a government-issued photo identification, such as a driver's license or passport. Financial documentation is also crucial. This can include recent pay stubs, W-2 forms from the past two years, and federal tax returns for the same period. Wells Fargo may also ask for bank statements from the last couple of months to assess an applicant's financial stability and savings. If the applicant has additional sources of income or assets, documentation for those will be required as well. This could include proof of rental income, retirement accounts, or investment statements. For self-employed individuals, business tax returns and profit-and-loss statements may be necessary. In certain cases, documentation regarding debts, such as credit card statements or loan documents, may also be required to evaluate the applicant’s overall financial health. It is advisable for applicants to prepare these documents in advance to streamline the process. More specific requirements can be found on the Wells Fargo Home Mortgages website, where you can also find additional contact information if needed.