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Mortgage Checklist

The following information is usually required during the loan process:

Personal

  • Driver’s license
  • Social Security card, valid work permit for non US Citizens (if applicable)
  • Divorce decree (if applicable)
  • Proof of veteran status – DD-214 (for VA loan)

 Employment/Income

  • Federal income tax returns for the previous two years
  • W-2 forms / 1099’s for the previous two years
  • Paystubs for the previous 30 days
  • Proof of additional income, such as Social Security benefits, child support, or alimony (if applicable)
  • Year-to-date P&L statement and Balance Sheet for most recent quarter (if self-employed)

 Assets

  • Statements for checking and savings accounts for the last two months
  • Signed letter of explanation for any large, unspecified deposits – additional supporting documentation may be required (if applicable)
  • Statements for retirement funds and other investments for the last two months, or most recent quarterly statement
  • If part of the down payment comes from gift, a gift letter stating the funds do not need to be repaid and additional documentation may be required (lender will provide letter to be signed)

 Liabilities

  • Documentation for all properties owned (Current mortgage statements, lease agreements, property tax and property insurance information)
  • Court documentation for bankruptcy or judgment (if applicable)
  • Listing agreement or sales contract for current home (if applicable)
  • Signed letter for explanation for any past derogatory credit (if applicable)
  • Landlord contact information (if applicable)

 Property

  • Fully executed purchase contract
  • Proof of earnest money deposit
  • Proof of homeowners insurance (needed before closing)
  • Contact information for homeowners association (if applicable)

 Note: Loan products can have different documentation requirements. Be sure to confirm with your lender what documentation you need to provide. You may be asked to provide additional documentation once the file has gone through an initial file review by underwriting.

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