Mortgage Checklist

In general, the documentation that you will need to start the process of your first mortgage loan once your loan is approved includes:

Check for the Appraisal Fee before an Appraisal is Ordered to establish the value of your home.

Property Information (if you are buying a home) (Not necessary when refinancing or if you own your home already)

Purchase & Sale Agreement.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.

For the past two years:

Names and addresses of each employer.
W-2s

Statements for each bank, mutual fund, and/or investment account for the last two months.
Estimated value of personal property and furniture.

If you have made any large deposits to your accounts:

Explanation and source for deposit.
If large deposit was a gift:

Signed gift letter (lender can supply).
Copy of gift check.
Copy of deposit receipt.

If you own more than 25% of a business:

Corporate or partnership tax returns.

If self-employed:

Tax returns for the last two years (with schedules).
Copies of Business Tax Returns if Filed Separately.

If you own rental property:

Tax returns for the last two years and current rental agreements.

If you are retired:

Pension Award Letter and Proof of Receipt of Income on a Monthly Basis.

If you receive Social Security:

Social Security Award Letter and Proof of Receipt of Income on a Monthly Basis.

If you are counting child support as income:

Copy of divorce settlement or divorce decree.
Copy of twelve months of canceled child support checks or Proof of Receipt.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
Name and Phone Number of your Home Owner's Insurance Agent or Company. Along with Your Policy Number or Account Number.

Get Started Here

NEED GUIDANCE?

Ranked #1
Credit Union in
Washington State

O Bee Mobile

Mortgage Checklist

Get Started Here

NEED GUIDANCE?

Ranked #1 Credit Union in Washington State

O Bee Mobile

Ranked #1
Credit Union in
Washington State