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What do underwriters look for with bank statements and paycheck stubs?

  • June 30 2009 - Los Angeles
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Answers (3)

That you can qualify with the debt to ration and income to ratio.
They have to make sure your income can support your new mortgage payments.

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  • July 01 2009
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Michael is absolutely correct.  Underwriters want to make sure the loan they are approving is not going to go bad.  Paystubs verify income and employment, bank statements verify cash assets which show you can make the down payment on the home as well as some mortgage payments if your employment fails.  They will match this information against you tax returns for further verification.
  • July 01 2009
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the lender verifies the checkstubs and employment with employer. Sufficient income to qualify is what they need to know. Bank statements prove a borrower has the means to borrow and pay reserves with seasoned funds.  They are looking into the borrowers finances to see what kind of risk they're taking.
  • June 30 2009
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