Maryland Proof of Residency for Mortgage

• Category: Affidavits - Proofs of Residence
• State: Multi-State
• Control #: US-02177BG-9
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). The person making the signed statement (affiant) takes an oath that the contents are, to the best of their knowledge is true.

Maryland Proof of Residency for Mortgage: A Comprehensive Guide In the state of Maryland, individuals seeking a mortgage are required to provide proof of residency as part of the application process. This requirement is crucial for lenders to verify the applicant's current address and assess their financial stability. Understanding the various types of Maryland Proof of Residency for Mortgage is crucial to ensure a smooth and successful mortgage application. 1. Maryland Driver's License or State Identification Card: One of the most common forms of proof of residency is a valid Maryland driver's license or state identification card. These documents not only establish the applicant's residency but also serve as an official form of identification. Lenders typically request a copy or digital scan of the front and back of this card to verify the applicant's current address. 2. Utility Bills: Another widely accepted form of proof of residency is utility bills. These bills may include electricity, gas, water, or landline telephone bills. Lenders usually require copies of these bills that clearly display the applicant's name, service address, and billing date. Utility bills should be recent to ensure they reflect the applicant's most up-to-date residency information. 3. Lease or Rental Agreement: For individuals who are renting their current residence, a lease or rental agreement can serve as valid proof of residency. The lease agreement should include the applicant's name, landlord's name, property address, lease duration, and signatures of both parties. Lenders may also request additional documents such as rent payment receipts or bank statements showing rental payments. 4. Mortgage Statement or Deed: If the applicant is a homeowner, providing a mortgage statement or deed can establish residency. Lenders may ask for a recent copy of the mortgage statement highlighting the applicant's name and property address. Alternatively, a copy of the property's deed, which can be obtained from the local county records office, can be submitted as proof of residency. 5. Vehicle Registration: While not directly related to residency, lenders may accept a copy of the applicant's current vehicle registration as supplemental proof of residency. This document shows the vehicle owner's address and can help further establish the applicant's connection to a particular address. It is important to note that each lender may have specific preferences or additional documentation requirements regarding proof of residency for mortgage applications in Maryland. Therefore, applicants should carefully review the lender's specific guidelines to ensure compliance and avoid delays in the application process. In conclusion, providing sufficient proof of residency is an essential part of the mortgage application process in Maryland. Forms of proof may include a Maryland driver's license, utility bills, lease or rental agreement, mortgage statement or deed, and vehicle registration. By understanding the different types of Maryland Proof of Residency for Mortgage and gathering the appropriate documents, applicants can increase their chances of a swift and successful mortgage approval.