LAS VEGAS MORTGAGE LOAN DOCUMENTATION

The documents you will need for your mortgage application will depend on your credit scores and the type of loan you are obtaining. The higher your credit score, the less documentation you will need, though today's strict lending guidlelines require a minimum from all purchasers. These guidelines are federally mandated - all mortgage lenders must follow them or risk losing their license, no exceptions.

All borrowers need to be prepared to "jump through hoops" to get loan financing, no matter how golden their financial portfolio is. Your lender will need:

your full name(s)
social security number(s)
address(es) for the last five years
employer(s) for the last five years
last two paycheck stubs with year-to-date earnings
last two banks statements for ALL accounts that have money in them (including 401Ks, stocks, mutual funds, etc)
last two years of W-2s
your first born child (okay, just kidding about the first born child)

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ADDITIONAL LOAN DOCUMENTATION FOR SELF EMPLOYED

If you are self employed, the lender will also need complete tax returns for the past two years and a year-to-date profit and loss statement. If you have had a bankruptcy, you will need your discharge papers. If you have been divorced you may also need to supply the divorce decree.

Most of the time experienced Las Vegas mortgage lenders can accurately gauge how much you will qualify for based on the items above and a satisfactory credit report. But be ready for the dreaded Underwriter! No matter how much documentation you provide in advance (and no matter how many times you have provided it), they will definitely want more "stuff" prior to closing! So make sure to keep financial paperwork easily accessible througout the closing process until you have your keys in your hand.