You will need these important documents and other information to apply for a mortgage:
- Copy of your Purchase and Sales Agreement, signed by all buyers and sellers (for purchase transactions).
- Original pay stubs covering the most current 30-day period for each applicant (for example, if you are paid twice a month, you would need to bring two pay stubs). Continue to save your pay stubs until you close your loan.
- Original W-2 forms for the last two years, for each applicant.
- Original bank statements for the past three months, for all checking and savings accounts (all pages) with explanation and proof of deposits not from payroll. Continue to save your bank statements until you close your loan.
- Name, address and phone number of landlord for the last 12 months, if you are currently renting or have rented in the past 12 months.
- Original 401-K and IRA statements (if applicable).
- Original investment and account statements for the past three months, if applicable (mutual fund accounts are an example).
- Last 12 months' canceled mortgage payment / rent checks (if applicable).
- A check for any application fee, which may include cost of appraisal and credit report.
- Social Security number of all applicants.
- Address of properties and current market value.
- Any debt owed on properties; lender's name, address, account number, monthly payment and current balance.
- Copy of previous two years' federal income tax returns with all schedules.
- If property is rented, a copy of the lease agreement.
Self-employed or paid by commission
- Copies of your last two years' personal and business federal signed income tax returns (Please sign in blue ink).
- Year-to-date Profit and Loss Statement and Balance Sheet.
Applying for a VA loan
- VA Certificate of Eligibility.
- Form DD-214 or, for in-servicce veterans, Statement of Service if discharged within last two years.
- Most recent Leave and Earnings Statement (in-service veterans only.)
- Name and Address of child dare provider (if applicable).
- Original pay stub for lender's file.
Applying for an FHA loan
- Photocopy of driver's license or acceptable photo I.D.
- Photocopy of Social Security Card.
If you are divorced
- Complete signed copy of all divorce decrees and separation agreements, including any stipulations or modifications.
- Proof of receipt of child support payments for the last 12 months (if you are using this income to qualify for your mortgage loan or if you are required to pay child support).
If you have filed for bankruptcy in the last seven years
- Copy of petition and discharge, handwritten explanation of reason for bankruptcy, evidence of excellent credit since bankruptcy.
- If you have graduated from high school or college within the last two years, enclose a copy of your diploma or transcripts.
- If, during the past two years, you have a gap in your employment of 30 days or more, include a letter explaining the reason.
- If you have closed on your present home, provide a copy of your signed HUD-1 Settlement Statement showing the amount of proceeds (If the sale is not yet complete, please provide a copy of the Purchase Offer).
- If you are receiving a gift for part of your down payment, you will be given a gift letter at time of application.
- If you are being relocated by your employer, provide a copy of your company's relocation policy.
- If you are a first-time home buyer and eligible for your local finance authority's assistance program, bring in a complete copy of your last three years federal income tax returns. (Please sign in blue ink).
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