There are so many people who get astounded when they see the list of requirements which they have to submit to the lending company when they are applying for a mortgage. This should not surprise you; the companies need those documents so they can have a full record of your finances and be able to do a proper credit investigation.
First of all, you will complete the application forma and pay for the application fee. This fee will pay for the credit appraisal and investigations.
Second, you need to submit the signed contract between you and the seller of the property.
Third, you need to submit some form of legal identification papers like: SSS number, driver’s licence, marriage certificates, complete address for the past two years, employer’s affidavit that you are a bonafide employee and earning a certain amount.
Fourth, you have to make copies of your tax returns or two years worth of W-2 forms and the most recent receipt that you had completed payment.
Fifth, copies of all of your existing loans, this includes every single detail of the loans, the contracts, etc.
Sixth, supporting documents of your savings and checking account, or an official bank statement for the past two to three months. This also holds true for any stocks owned, etc.
Seventh, if you are paying for child support, then you also need to submit documents stating that you are making your payments faithfully for the past several months.
Now, other lending companies may demand other documents, like the sketch plan for the property that you are buying, if the house already exists then the blue prints of the house which includes the electrical and plumbing layout and which should be both signed by the contractors that built it. Some banks may also demand that the owner of the home submit the property tax receipt which had been paid for at least two years.