Mortgage Checklist
The list of documents that we will ultimately need from you will be based on your financial situation, the type of mortgage we’re applying for and the requirements for final approval. We will provide you with an easy to follow list and a secure portal to upload all documents we need. The list below are documents that are frequently asked for. Having everything ready from the get-go will help you close on your home with minimal stress.
Income Verification
- W-2’s from current and past employers for 1 year
- Pay stubs (typically from the last 30 days)
- Income tax returns
- Self-employed
– Profit and loss statements
– 2 years of federal tax returns (personal and business)
– List of business debts
– Form 1099s
- Alimony or child support (paid or received)
– Court order
– Bank statements or canceled checks to verify regular payments
– Divorce decree if applicable
Assets and Debts (to Calculate Debt to Income Ratio)
- Two to three months’ worth of statements for all accounts listed on the application (such as bank accounts, investment accounts, and student loans)
- Documentation for any large deposits on asset or bank statements
- Judicial decree or court order for each obligation due to legal action
Credit Verification
- This is a big part of applying for a mortgage. While you don’t actually submit your credit reports, the lender will ask permission to check your credit history
- Credit explanation letter explaining any late payments, collections, judgements, or other items not in good standing
Other Records
- Rent- proof of payments for the past 12 months and contact information for landlords for the past two years
- Divorce decree if applicable
- Bankruptcy and foreclosure -discharge papers for any bankruptcies in credit history and proof that the property deed has been transferred for foreclosure
- Thin credit file – payment history for utilities, cellphone, cable TV, car insurance and other expenses
