Typically, M&T Bank looks at two years of personal tax returns when we're verifying
income. By reviewing income tax filings during the mortgage application process,
we also get a peek at dividend and/or interest income that you've received. And
if you're a total investment guru, then you should show it off. Knowing
you're earning money through interest or dividends lets us know that you've
probably got a plan for the future, too.
As we're verifying income, we'll likely need to review statements from your
brokerage accounts, see stock certificates or see promissory notes. Before you apply
for your loan, it might help to get these statements and/or documents compiled.
There's one thing, though: We need to know you're a long-term investor.
For dividend or interest income to be considered in the mortgage qualification process,
we'll need to prove that it will continue for at least three more years.