Full documentation loan

In the United States, full documentation loan refers to a loan where all income and assets are documented.[1] 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.[2]

## Contents

* 1 Required documentation
* 1.1 Income verification
* 1.2 Asset verification
* 1.3 Debt information
* 1.4 Information regarding desired purchase
* 2 References

## Required documentation

Below is a list of some of the documents that are commonly required when applying for a full documentation loan.[3]

### 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; for example:
* Social Security
* Overtime bonus
* Commission
* Passive income (interest income)
* Veteran's Benefits

### Asset verification

* Address of one's 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; for example:
* 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 one is committed to the purchase
* Cancelled deposit check

## References

1. ↑ GIANNAMORE, Richard; OSACH, Barbara Bardow (2009-04-22) (in en). Navigating the Mortgage Minefield: Your Complete Guide to Avoiding Costly Problems and Finding the Right Loan in Today's Market. AMACOM. pp. 110. ISBN 978-0-8144-1370-8. https://books.google.com/books?id=ySLeCkmu8LkC.
2. ↑ Quail, Rob (2010-09-09) (in en). Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future. John Wiley & Sons. ISBN 978-0-470-62241-4. https://books.google.com/books?id=b0rPR7ue4yIC.
3. ↑ Staff. "Documents required for a business loan". https://foretagslan.net/.

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