Mortgage Loan Checklist:  What You Need to Apply for a Mortgage:

Before applying for a mortgage, use this mortgage loan checklist to ensure you’re fully prepared to discuss your loan with the lender. Gathering these documents in advance can speed up the process and make your home-buying journey smoother.mortgage loan checklist illustrated by a notepad

Required Documents:

  1. W-2 Forms — Or business tax return forms if you’re self-employed, for the last two or three years for everyone signing the loan.
  2. Pay Stubs — Copies of at least two pay stubs for each person signing the loan.
  3. Bank or Credit Union Statements — Copies of two to four months of statements for both checking and savings accounts.
  4. Loan Details — Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
  5. Residential History — Addresses where you’ve lived for the last five to seven years, with landlord names if applicable.
  6. Brokerage Account Statements — Copies of brokerage account statements for two to four months, as well as a list of other major assets, such as a boat, RV, or stocks/bonds not held in a brokerage account.
  7. Retirement Account Statements — Copies of your most recent 401(k) or other retirement account statements.
  8. Additional Income Verification — Documentation to verify any additional income, such as child support or pension.
  9. Personal Tax Forms — Copies of personal tax returns for the last two to three years.

 

Please note: Not all of the documents listed above may be necessary for your mortgage application. Your lender will customize the documentation requirements based on your unique financial situation. 

By ensuring you have the relevant documents from this mortgage loan checklist, you’ll be well-prepared to move forward with your mortgage application.  This will not only help speed up the process but also ensure a smooth and efficient experience as you take the next steps toward homeownership.

Now get prepared by reading our 12 Essential Questions You Should Ask Your Mortgage Lender.

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