What documents do mortgage brokers require?

What documents do you need for a mortgage broker?

5 things to take to your first meeting with a mortgage broker

  • Personal ID. Lenders want to know who you are – no surprises there, so bring along one or more forms of photographic ID – like your passport, driver’s licence or proof of age card. …
  • Proof of income. …
  • Evidence of savings. …
  • Property details.

What documents does a broker need?

Ensure your ID and address documents are up to date

  • Passport – must not be expired.
  • Driving License – must have your current address.
  • Council tax statement – latest one available.
  • Utility Bills – usually dated within 3 months.
  • Bank statements – physical statements are required if you use these as proof of address.

Do mortgage brokers need bank statements?

Why do mortgage lenders need bank statements? Mortgage lenders need bank statements to make sure you can afford the down payment and closing costs, as well as your monthly mortgage payment. Lenders use your bank statements to verify the amount you have saved and the source of that money.

What do you need when meeting with mortgage broker?

Your mortgage broker will pull your credit report as part of the pre-approval or approval process. It can be helpful to bring a list of your debt balances including credit cards, lines of credit, or car loans. Credit reports are updated monthly and some of your accounts may not be current on your credit report.

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What should I know before talking to a mortgage broker?

Five Things You Need Before You Talk to a Mortgage Lender

  • State Identification and Social Security number. …
  • Verification of income. …
  • Verification of employment. …
  • Copies of asset statements. …
  • Strong credit score.

What evidence do you need for a mortgage?

your last three months’ payslips. passport or driving licence (to prove your identity) bank statements of your current account for the last three to six months. statement of two to three years’ accounts from an accountant if self-employed.

Do mortgage brokers share information?

When you apply for a mortgage loan, your lender should provide you with a document stating exactly what it does with your personal information and if they share it with others. … For instance, you lender has to provide your basic personal information to one of the three credit bureaus to receive your credit report.

When should you contact a mortgage broker?

It’s a great idea to meet with a mortgage advisor when you’re in the process of saving. They can let you know if you’re saving enough per month, and if you have enough left over at the end of each month too.

How does underwriters verify your bank statements?

Most underwriters will ask for statements from the donor to verify that they had the money available to gift. The gift giver must also sign a Gift Letter stating their relationship to you (the buyer), the amount of the gift, and the understanding that the money is a gift, and is not expected to be paid back.

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How do mortgage lenders verify income?

To verify your income, your mortgage lender will likely require a couple of recent paycheck stubs (or their electronic equivalent) and your most recent W-2 form. In some cases the lender may request a proof of income letter from your employer, particularly if you recently changed jobs.