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Mortgage Documentation Requirements                                                                    

Mortgage documentation requirements can seem daunting. When you are planning for a mortgage application, one of the most important steps you can take before you apply is to gather the mortgage documentation you may need to supply with your application. Which loan you select will determine the exact mortgage documentation requirements. We have categorized the requirements for your convenience. Please feel free to email me with any specific questions on any mortgage documentation requirements. I am always happy to respond to specific questions.

As an alternative to these full mortgage documentation requirements, we offer a series of reduced mortgage documentation loans for clients with difficult to verify income or asset situations or if you are self employed.

Income Documentation

  • Last 2 years W2 forms.

  • Last 2 pay stubs (covering 1 month).

  • Last two years signed 1040s, all schedules if 25% or more of your income is from self employment, overtime, commissions, or employment by a relative.

  • Last 2 years business tax returns if you own 25% or more of a business.

  • Current business income statement.

  • Proof of Social Security, pension, or disability income.

Asset Information

  • Last 2 months bank statements - all pages.

  • Last quarter investment or trust accounts

  • Copies of stocks, bonds, or US savings bonds

  • Current statement for 401(k) or IRA accounts

  • Real Estate you now own: address, current value, loan balance, monthly payment, and rental income if any.

  • Listing agreement and sales contract if selling your current home.

  • Value of autos, boats and any other personal property.

Liability Information

  • Complete list of current debts and minimum monthly payments (may be taken from credit report).

  • Last 12 months cancelled checks (front and back) for rent or land contract.

  • If the transaction is a refinance, a copy of your current mortgage, deed, and survey

Home Information

  • Copy of your sales agreement.

  • Copy of the MLS listing card.

Miscellaneous Information which may be required

  • College diploma if you graduated within last two years.

  • Copy of Drivers License or picture ID prior to closing.

  • Gift letter signed by the donor and proof of receipt and ability to gift the funds.

  • Landlords contact information.

  • Copy of your earnest money deposit check. Both front and back will be needed.

  • Contact name and phone for the appraiser to access the property.

  • Your Realtor's contact information.

  • Your insurance agent's contact information

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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