What documents are needed to obtain a mortgage?

In California, the documents needed to obtain a mortgage are required by law to be provided by the borrower. These documents include proof of the borrower’s identity and Social Security number, proof of income and employment, payment of closing costs, a Credit Authorization form, and any necessary gift letters. Proof of identity and Social Security Number include a government-issued ID, such as a driver’s license or passport, and a Social Security card. Proof of income and employment includes a history of income and current job status. The lender may also request copies of paystubs and bank statements. The Credit Authorization form must be signed by the borrower, and it gives the lender permission to run a credit check. This is to determine the borrower’s ability to repay the loan. If the borrower is receiving money from a family member or friend to help with closing costs, the lender may require a gift letter which states the source of the money and shows that it is not a loan. In California, it is also important to obtain a real estate broker’s license if the borrower is obtaining a mortgage on a rental property. All of these documents are needed to obtain a mortgage in California. It is important to provide all documents in a timely manner to ensure a smooth process in obtaining a mortgage.

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What documents are needed to obtain a mortgage?

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