What Documents Will I Need To Apply for a Mortgage?
Here's a list of the documents most commonly needed in order to apply for a mortgage loan. You may need additional documents depending upon the type of loan you're applying for, so be sure to check with the lender.
· Application Fee (cost of appraisal and credit report)
· Agreement of Sales contract signed by Buyers and Sellers., legible
· Social Security number of all applicants.
· Residence - Complete address for the past 2 years (including complete name and address of landlords for past 24 months).
· Income - Name, address, and all income earned from all employers for past 24 months.
· W-2 Forms previous two years.
· Pay Stubs - most recent year-to-date.
· Tax Returns – Needed by some Lenders
· Credit Cards / Loans / Auto & Student Loans - Name, address, account number, monthly payment and current balance for: installment loans, revolving charge accounts, student loans, mortgage loans, and auto loans.
· Bank accounts - Name, address, account number, and balance of all deposit accounts, including: checking accounts, savings accounts, stocks, bonds, etc.
· Stocks/Bonds/Investments - Three months most recent statements for deposit accounts, stocks, bonds, etc.
· Child Support/Alimony - If you choose to include income from Child Support/ Alimony bring copies of court records of cancelled checks showing receipt of payment, documentation for children / property settlement agreements and divorce decree
If you are applying for a V.A. Loan:
· DD-214, Certificate of Eligibility, or statement from your Commanding Officer if you are on active duty.
If you are self-employed or paid by commission:
· Previous two years Federal Income Tax Returns with all schedules and a year-to-date profit and loss statement.
If you own other properties:
· 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 rented; copy of lease.
If you have filed bankruptcy in the last seven years:
· Copy of petition and discharge, handwritten explanation of reason for bankruptcy, evidence of excellent credit since the bankruptcy.