Common use of Borrower Documents Clause in Contracts

Borrower Documents. The applicant shall bring all necessary documentation to the mortgage application meeting. Income can be calculated by obtaining the past two (2) years' 1040 forms, W-2 forms, and a current year-to-date pay stub for each applicant. Assets can be calculated by providing the past three (3) months statements on each depository account of the applicants. A complete list of monthly liabilities with account numbers, addresses, balances, and monthly payments must be provided by each applicant as well as landlord and/or mortgage information for the past two years.