Your Lake of the Ozarks Mortgage Lender: Documents Needed for a Mortgage Loan

When purchasing a second home, you will still need to go through the mortgage process, just like you did when purchasing any other property. If you’re ready to take the big step and purchase a vacation home at the Lake of the Ozarks, Team Lasson is ready to help you walk through the mortgage process. The application process can be started on our website, and after this is complete, we’ll start collecting the documents that are needed to move forward in the process. Here is a basic list of the documents you will want to gather as you being the mortgage process.

Proof of Income

Proving your income will generally require providing a few specific documents:

The last 30 days of pay stubs
Your current tax returns, personal and business (some programs may require 2 years of returns)
Tax forms such as, W-2 and 1099s

Insurance

Start checking with some insurance agents to get quotes for coverage on the property you are looking to buy so you have an idea of what the annual premium will be to figure into your debt ratio

Monthly Debt Load

We will know most of your debts during a credit check, but it’s still important for you to account for additional information regarding those debts and other debts that might not be reported. You’ll want to grab provide documents like:

Your current mortgage statements for all properties you currently own
Proof of taxes, insurance and association dues on properties you own, if not escrowed
Student loan payments

Total Assets

You will need to provide a current statement for your assets.

Checking and Savings accounts
Stocks
Bonds
Mutual funds
CDs
Retirement accounts

It’s Time to Get Started!

There’s still time to purchase a home, and Team Lasson would like to assist. Purchasing a vacation home at the Lake of the Ozarks can be a wonderful process, and with the right team behind you, you will be amazed at how easy it can be to get a mortgage for your second home. Visit our website to learn more about our mortgage company at the Lake of the Ozarks. You can also fill out your an on-line application to get the process started! We look forward to assisting you in accomplishing this exciting goal - and before you know it, it will be time to cut get the keys and throw a housewarming party!