Our Mortgage Checklist is designated to help you identify and prepare the documentation and information required during the typical mortgage process.
Mortgage Checklist
Residence History:
● A list of your current address (include the zip code), as well as any previous addresses from the previous 2 years.
● Duration of time that you lived at each of the addresses over the past 2 years.
● The name and address of any current landlords, or any landlords you have had over the past twelve month period.
Employment History:
● Names, addresses, and dates of employment of all employers that you have had in the past two years.
● Original pay stubs from the past 30 days, including name, Social Security number, and year-to-date earnings.
● Original copies of your W-2s for the two most recent tax years.
● If you are self-employed or receive a 1099, the most recent two years of tax returns, including all schedules.
● If you own 25% or more of your own business enterprise, be prepared to provide the most recent two years of business tax returns, including all schedules, a year-to-date profit and loss statement, and your business’ balance sheet.
● If you earn a commissioned salary, your most recent two years tax returns, with all schedules and year-to-date employee business expenses.
Outstanding Loans and Credit Card Balances:
● The name of your creditor, the monthly payment and balance for each loan or card, and the balance on your checking, savings, and investment accounts.
● Information on the names and account numbers for every bank/financial institution.
● Provide copies of statements from each account from the past two months.
● If there are deposits greater than 25% of your monthly gross income, you must provide an explanation of their source.
Real Estate:
● The property address of any property you currently own.
● The estimated market value for any property you currently own.
● Loan balance each property you currently own with an outstanding loan balance, as well as the name and the address of the creditor.
● Monthly payment costs, including: taxes, insurance, and HomeOwner Association (HOA) dues, if applicable.
● The amount of monthly rental income earned from any property you currently own (if applicable)
● Also include any rental agreement for any property you currently own and the tax returns from the past two years, including all schedules.
Other documents:
● If you have purchased a new home, please provide a copy of the Purchase Contract.
● If you are currently selling your property, a copy of the Sales Contract from that transaction.
● If you sold your previous home, please provide a certified copy of the closing statement (HUD-1).
● If you will be applying for an FHA loan, please provide a copy of your Social Security Card and your driver’s license.
● If you will be applying for a VA loan, please provide an original certificate of eligibility and DD214.