Mortgage Checklist: Documents You Will Need

Income

Most borrowers are paid weekly, bi-monthly or monthly. If that’s you, you’ll need to provide:

• Pay Stubs for the most recent 30-Day period
• W-2 Forms for the past two years
• If you are self-employed, own your own business or earn income from investments, you’ll have to provide some additional information about your corporation or investment
• Signed and Complete Tax Returns for the most recent 2 Years period – Personal, Partnership and/or Corporate
• A Year to Date Profit and Loss statement for the current year

Assets

The lender verifies your funds for down payment and closing costs and what the source was.

• Bank and Investment Account statements for the past 3 months
• If you’ve sold another property and use the proceeds to finance the new home: the RESPA HUD-1 statement or your CD – Closing Disclosure
• If you are receiving a gift: a gift letter and proof of deposit
• If you are selling an asset to fund your transaction: proof of ownership, proof of sale and proof of funds transfer.

Credit History

The lender pulls a credit report at the time of application and most of your credit information will come from it. Additional information may be needed.

• If your rental payment history does not show on your report, 12 months of cancelled rent checks may be required
• If you’ve filed for bankruptcy or had a property foreclosed: documentation for those filings
• If you are receiving Child Support or Alimony: the order and proof of receipt.