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

When applying for a mortgage with Central Mortgage Company, potential borrowers typically need to provide a variety of documentation to ensure a thorough assessment of their financial situation. The exact requirements may vary depending on the type of loan and individual circumstances, but there are several common documents that are generally requested. First, borrowers should have recent pay stubs, typically covering a month or two, to verify income. It is also important to provide W-2 forms from the last two years, as well as personal tax returns for the same period. If the applicant is self-employed, additional documentation may be necessary, such as profit and loss statements or a year-to-date balance sheet. Furthermore, an applicant will need to disclose details regarding their assets, including recent bank statements and statements for any other investment accounts. In addition, documentation related to outstanding debts, such as credit card statements, student loans, or car loans, will be required to evaluate the debt-to-income ratio. Lastly, identification, such as a driver's license or passport, may be needed for verification purposes. To obtain the most accurate and up-to-date information regarding document requirements, it is useful for prospective borrowers to refer to the Central Mortgage Company’s official website.