Documents Required for Mortgage Loan:
- Consumer's credit score - this helps determine the amount of money that is allowed to be borrowed, the rate of payments due and the amount of interest added to the loan.
- Consumer's income statement - this is needed for proof of income when submitting the loan application.
Documents Required to Close on a Home Purchase:
- Transfer of title ownership - when a home is purchased, there is a transfer title of ownership from the previous owner or builder to the new homeowner.
- Mortgage loan agreement - this is signed by the borrow that they will pay their mortgage on the home each month
