Hunter Financial Group: Required Mortgage Documentation

At first glance, individuals may find the amount of paperwork they are required to submit during the loan application process somewhat overwhelming. The loan specialists atHunter Financial Group are available to help their clients navigate this seemingly daunting process. Their goal is to provide the best service possible to customers throughout the mortgage loan process.

Employment Verification

In regards to employment, two years of documentation is typically required to verify a consistent work history. Requested documentation typically includes personal tax returns, pay stubs, and W2 statements. Proof of additional income, such as social security, is also requested in the form of award letters of other documentation.

Hunter Financial Group notes self-employed individuals have other special considerations to meet. Like their peers who work for outside employers, these individuals must provide two years’ worth of documentation. The requested documentation extends to bank statements and tax returns for both the individual and the business. Any business licenses or articles of incorporation are also requested as evidence of self-employment. In some cases, a potential lender may request reference letters for the company’s oldest customers.

AssetsVerification

Lenders must also verify assets before extending a home loan. Two months of bank statements for checking and savings accounts are requested. Lenders also request statements for current investment accounts including mutual funds, stock holdings and retirement accounts.

Hunter Financial Group on Additional Verifications

Mortgage or Rent Verification

For those who currently own a home and are looking to move, the lender will require one year’s worth of mortgage payment history. This is available on credit bureau reports. It is also possible for the lender to contact the mortgage company directly should the applicant wish to provide the company name and phone number. Renters must provide a year’s worth of canceled rent checks or the landlord’s name and contact information for further verification.

Final Considerations

To apply for a home loan, Hunter Financial Group requiresclients provide a copy of a current driver’s license as well as their social security cards. It is necessary for all parties to sign and date all areas of application and disclosure where required. After the home loan is approved, Hunter Financial Group suggests the new homeowner obtain a copy of the earnest money check that has cleared the bank. In the case of new construction, a buyer will want to obtain a certificate of occupancy. Contact Hunter Financial Group for additional information today!