Posted on: 10th Feb, 2013 11:44pm
Even a few years ago, obtaining a mortgage loan was quite easy. You had to just fill in the application for that. Then the lender used to pull your credit report to offer you the loan. In majority of the cases, your loan was approved.
Obtaining a mortgage loan is however not that much easy these days. Now you have to provide necessary documents needed for mortgage. These documents pertain to your income, employment, assets, debts and a lot of other financial parameters.
You may be asked to provide bank statements of last 3 months. You should submit these documents willingly to the lender. With these documents, your lender can judge your financial position and assets in a better way. Again, you may also be asked to provide your credit card statements. This actually helps your lender assess your unsecured debt position. Anyways, before applying for a loan, you need to ensure that all these documents are ready with you. If you are unable to provide these documents to the lender on time, your loan appeal may be rejected also.
Obtaining a mortgage loan is however not that much easy these days. Now you have to provide necessary documents needed for mortgage. These documents pertain to your income, employment, assets, debts and a lot of other financial parameters.
You may be asked to provide bank statements of last 3 months. You should submit these documents willingly to the lender. With these documents, your lender can judge your financial position and assets in a better way. Again, you may also be asked to provide your credit card statements. This actually helps your lender assess your unsecured debt position. Anyways, before applying for a loan, you need to ensure that all these documents are ready with you. If you are unable to provide these documents to the lender on time, your loan appeal may be rejected also.
Hi there, I am applying for a mortgage. What are the documents needed for mortgage? Is it normal for them to request for a detailed bank and credit card statements?
Yes, those mortgage loan documents are required by the lender. Detailed bank statements are a standard request from all the banks. There is nothing wrong in it. You should provide the lender with all the pages in the statement. Don't miss out on anything.
Hi Guest!
Welcome to forums!
I agree with what Niicss has said. It is pretty normal to ask for detailed statements. This helps the underwriter to check the recent transactions taken place. If there are any issues, then he can even ask for a clarification from your end.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with what Niicss has said. It is pretty normal to ask for detailed statements. This helps the underwriter to check the recent transactions taken place. If there are any issues, then he can even ask for a clarification from your end.
Feel free to ask if you've further queries.
Sussane