Applying for a mortgage is a necessary step in the home buying process, unless of course you are paying cash. Lender’s often require detailed information about you and your financial situation. It’s a good idea to gather documents before applying for a mortgage. Here is quick checklist of items you will need.
- Copy of your I.D.
- Driver’s License, FRONT AND BACK
- Social Security Card, if easily available
- Current Bank Account Statements (2 months of each and ALL pages)
- Checking & Savings Statements (2 months) – ALL PAGES of the statement
- Stocks, Funds, and Securities statements – ALL PAGES (if using any 401Ks, must have “terms and conditions of withdrawal”)
- Money Markets and CDs accounts, if any
- Income / Employment
- Pay stubs covering most recent 30 days
- Retirement / Social Security income: award letters and 1099s
- W-2 and/or 1099 forms (2 years for self employed)
- Federal Tax Returns, all schedules (2 years) – please sign them (usually page 2)
- Business Tax Returns, if self-employed (2 years) including the K-1s (don’t forget to sign them)
- YTD Profit and Loss Statement, if self-employed
- Property (for all owned)
- Mortgage Statements for 1st (and 2nd mortgage, if applicable)
- Homeowners Insurance declaration page showing premium
- Property Tax Bill
- Homeowners Association Dues Statement. If none, sign a letter stating there is no required HOMEOWNER’S Dues.
- Special Circumstances
- List of property you own with addreses
- Landlord contact information – name and phone number
- Bankruptcy papers – complete filing and discharge papers
- Divorce or separation decree with alimony and child support information
- DD214 for VA Loans
- Once Under Contract
- Copy of the signed contract and all exhibits and addenda
- Copy of the Earnest Money check and bank statement showing the check cleared your funds
- Bank statement showing the earnest money cleared your account
- Name and phone number of Attorney you will be using
- Insurance Agent and phone number – once you have shopped around and found one
