What documents do I need to provide for a mortgage application?

When applying for a mortgage through Freedom Mortgage, applicants typically need to provide a variety of documents to help establish their financial situation and eligibility. The exact documents may vary based on individual circumstances and the type of loan being considered, but there are some common items that are generally required. Firstly, proof of income is essential. This may include recent pay stubs, W-2 forms from the past couple of years, and possibly tax returns if self-employment is involved, as lenders will want to verify stable income over time. Additionally, documentation that demonstrates assets is necessary. This might consist of bank statements for checking and savings accounts, investment account statements, and any other financial assets that support the mortgage application. Another important aspect is credit history. Although Freedom Mortgage will conduct a credit check, applicants are encouraged to provide authorization for the lender to access this information. This ensures that the lender can review the applicant’s creditworthiness effectively. Identification is also crucial. A government-issued photo ID, such as a driver’s license or passport, will typically be required to confirm identity and prevent fraud. Finally, if there are any additional circumstances, such as a co-signer or specific loan programs being used, additional documentation may be necessary. To get the most accurate and up-to-date information on what documents are required, it is always best for applicants to refer to the official Freedom Mortgage website or resources provided during the application process.