Quote:
Originally Posted by MeredithMan
JasonG--
in response to your question about mortgage requirements, we are considering an investment property purchase at the lake, and are going through Meredith Vill SAvings Bank. Their requirement list to us includes:
--last 2 years' W2's
--last 2 years' tax returns
--all bank and investment account statements for the last several months
--most recent pay stubs
--copies of RE tax and insurance bills for all real estate owned
I think there was more that they asked for, but those are the big ones. I'm guessing other banks / credit unions' requirements would be similar.
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Wow, I went thru a re-fi at MVSB on my primary home here on the lake a couple of years ago. Been here at the same house for 40 years, worked at the same local business for 30 years;, they required only about half that documentation. Just saying, investment (2nd home) financing must be a lot more stringent!!