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Mortgage Checklist

What to bring when applying for a loan.

Employment

  • Copies of pay stubs covering the most recent 30 day period.
  • Addresses for the most recent two years
  • Gross monthly income (before taxes)
  • Most recent 2 years’ worth of W-2s and federal tax returns
  • Proof of pensions, retirement, disability or Social Security benefits.
  • Proof of income from rentals, investments, etc. (this includes copies of current leases)
  • Proof of child support or alimony paid/received (including a copy of your divorce decree and separation agreement)
  • If self-employed
    • Besides your personal tax returns from above, please provide the last 2 years of business tax returns, including any 1099s and K-1s.
    • Current year profit and loss statement

Creditors

  • Your lender will pull a copy of your credit report to determine each account, balance, and minimum monthly payment.
  • If you have loans that been recently paid off, are in a deferment, or are brand new – please bring that information with you!

Banking

  • Please bring copies of the last two months of statements for each account in your possession.
  • Be sure to copy every page, even if it is blank or contains no useful information.
  • If the statement says there are six pages, the mortgage company will want all six pages!
  • If you only get quarterly statements, then just bring a copy of the most recent one.

Miscellaneous

  • List of assets in stocks, bonds, land
  • Life insurance cash value (documented if for down payment)
  • If applicant is selling a home, a copy of sales contracts
  • Social Security numbers for all parties
  • Veterans - Certificate of Eligibility and DD-214 (for VA loans only)
  • Cash or check to pay for application fee. We don’t charge an “application fee” here, though many lenders do. However if you decide to proceed, we will need a deposit for the appraisal to be ordered!

Your Realtor should provide

  • Copy of sales contract
  • Copy of MLS listing sheet on property
  • Instructions on how appraiser is to gain entrance