Mortgage Basics / Application Checklist

  • Copies of your pay-stubs for the most recent 30-day period and year-to-date
  • Copies of your W-2 forms for the past two years
  • Work visa or green card (copy front & back)

If self-employed or receive commission or bonusinterest/dividends, or rental income:

  • Provide full tax returns for the last two years PLUS year-to-date Profit and Loss statement (please provide complete tax return including attached schedules and statements. If you have filed an extension, please supply a copy of the extension.)
  • K-1’s for all partnerships and S-Corporations for the last two years (please double-check your return. Most K-1’s are not attached to the 1040.)
  • Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) including all schedules, statements and addenda for the last two years. (Required only if your ownership position is 25% or greater.)

If you will use Alimony or Child Support to qualify:

  • Provide divorce decree/court order stating amount, as well as, proof of receipt of funds.

If you receive Social Security income, Disability or VA benefits:

  • Provide award letter from agency or organization
  • Sale of your existing home – provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/Closing Statement)
  • Savings, checking or money market funds – provide copies of bank statements for the last 3 months
  • Stocks and bonds – provide copies of your statement from your broker or copies of certificates
  • Gifts – If part of your cash to close, provide Gift Affidavit and proof of receipt of funds
  • Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation

If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

When applying for a mortgage, lenders will review your credit and depending on your situation score requirements can change from time to time, it’s best if you speak to us if you have a challenge on your credit history…

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