I’ll be filling out the CSS and FAFSA forms this year. What kind of documentation, if any, does either of them want about my mortgage balance? Just the figure of the balance remaining, or do they want copies of statements, amount paid monthly, etc.? I have a second mortgage that is kind of odd. Thanks.
You need the documentation to know what to put in your financial aid forms.
For the FAFSA, your primary residence is not considered at all. @kelsmom is that still the case?
For the Profile, the schools usually want the value of your home minus any outstanding loans (in other words…the equity you have in your home). Do you have the information that will enable you to figure this out?
@Mwfan1921 I feel like I am missing something in this question.
FAFSA doesn’t ask about home value or mortgage.
My recollection of Profile was that I was asked about equity, which was defined as market value minus outstanding mortgage balance. I was never asked to provide any documentation of my self-reported numbers for housing value. I suppose some schools might ask for documentation, in which case I would call the school and ask what they want.
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