The Documents You Need to Apply for a Morgage
(will vary loan program and situation)
Area of Income
- Last 4 pay stubs
- Last 2 years W-2s
- Last 2 years tax returns if you have rental income or are self- employed
- Court records with the amount of child support, if applicableArea of Assets
- Last 2 month's statements for each Checking & Savings Account
- Last 2 months statements on any other asset account, such as 401(k), Mutual Funds, etc.
- Verification of Earnest money if purchasing (copy of check)Area of Special Mortgages
- Contractors Bids
- Copy of Contractor's license
- Termite Inspection on all Government mortgages (FHA and VA)Other Documents
- If currently renting, 12 months canceled checks for rent, or Landlord's name, address, & phone number
- Photo ID for all borrowers (Drivers License, Green Card, etc.)If Other Property is Owned
- Copies of all leases on rental property
- Copy of property taxes & insurance on all properties owned
- If selling a house, accepted Offer to Purchase, or Purchase & Sales Agreement, or HUD-1 settlement sheet from saleCondominiums
- Unit deed & master condominium deed
- Name, address, and phone number of the Homeowners Association and Management CompanyFrom the Realtor
- Signed Purchase & Sales Agreement for the property being purchased
- Evidence the funds held for deposit have clearedOther Possible Information Needed
- Explanation of any gaps in employment over the last 2 years
- Explanation of different addresses on documents and statements
- Explanation of any recent large deposits in any asset account
- Explanation if current pay stubs reflect a significant change in income compared to the year before
- Explanation of any credit issues over the past 2 years
- Explanation of bankruptcy and evidence of discharge with a list of creditors
