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Introduction

The loan process will be more efficient if you spend some time gathering the information that you're likely to need before you find the home of your dreams and apply for a mortgage. Here is a list of documents that you might be asked for:

If You Receive A Salary

  • Last year's W-2 forms for each borrower
  • Federal tax forms for the last two years, including schedules and attachments
  • Pay stubs for the last three months
  • Bank statements for each account
  • Gift funds, if applicable, require that the giver provide a copy of a bank statement or other proof that the funds are available
  • Addresses of residency for the last 2 years
  • Large deposits (larger than your monthly income) in the last three months, provide an explanation of where it came from

Self-Employed

  • Federal tax forms for the past two years, including all schedules and attachments
  • Year-to-date Profit and Loss statement
  • Bank statements for each account

Own Residential Rental Property?

  • Lease agreements
  • 1040 forms for the past two years

Purchase Transaction?

  • A fully executed (signed by both parties) copy of the sales contract

Divorced?

  • Copies of divorce decrees
  • Documentation to support additional income, such as Social Security, child support, and alimony

Bankruptcy or Credit Problems?

  • Complete copy of the bankruptcy proceedings, including all schedules and a letter explaining the circumstances
  • If you have any judgments against you, provide a copy of recorded satisfaction of judgment and copies of documents describing any lawsuits with which you are currently involved

FHA and VA loans

  • Photocopy of a picture ID and a copy of your social security card. For a VA loan, bring proof of enlistment

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