Full Document Loan
Full Documentation Loan refers to a loan where all income and assets are documented. It is typically referred to as a "full doc" loan in the mortgage industry and is a common type of loan used for financing a home purchase.
Below is a list of some of the documents that are commonly required when applying for a full documentation loan.
Income Verification
Proof of Earnings
W-2 form
Recent pay stub
Tax returns for the past two years
Proof of Earnings (if self-employed)
Profit and loss statements
Tax returns for current year and previous two years
Any Additional Income (examples)
Social Security
Overtime Bonus
Commission
Interest Income
Veteran's Benefits
Asset Verification
Address of your Bank Branch
Bank Account Numbers
Checking and savings account statements for the previous 2-3 months
Savings Bonds, Stocks or Investments and their approximate market values
Copies of titles to any motor vehicles that are paid in full
Debt Information
Credit Card Bills for the past few billing periods
Other Consumer Debt
Car Loans
Furniture Loans
Student Loans
Other Personal and Cosigned Installment Loans with creditor addresses and phone numbers
Evidence of mortgage and/or rental payments
Copies of alimony or child support
Information regarding Desired Purchase
Copy of the Ratified Purchase Contract
Proof you are committed to the purchase
Canceled deposit check