The Ultimate Guide to Everything You Need for a Mortgage

Just started your homebuying journey? Or ready to lock your loan? In order to expedite the underwriting of your loan, here's a checklist of initial required documentation.

1. Income Verification:

Documentation depends on the types of income you receive. You may have multiple sources of income so be sure to collect the documentation required for every source of income you receive:


Salaried Employees:

❏ Pay stubs with Year-to-Date earnings for all borrowers for the last 30 days.
❏ W-2 forms from all employment - for all borrowers -for the past 2 years.
❏ Names, phone numbers and addresses of each employer for the past 2 years.

If you receive Commissions and/or Bonus income:

❏ Pay stubs with Year-to-Date earnings for all borrowers for the last 30 days.
❏ W-2 forms from all employment - for all borrowers -for the past 2 years.
❏ Personal signed tax returns for the last 2 years, including all schedules.

If you are Self-Employed:

❏ Personal signed tax returns for the last 2 years including all schedules.
❏ Business signed tax returns for the last 2 years including all schedules.
❏ Current financial statement signed and dated, including a balance sheet and a profit and loss statement.
❏ All 1099s, if applicable.

If you own 25% of a business:

❏ Pay stubs with Year-to-Date earnings for all borrowers for the last 30 days.
❏ W-2 forms from all employment - for all borrowers -for the past 2 years.
❏ Personal signed tax returns for the last 2 years including all schedules.
❏ Corporate or partnership signed returns for the last 2 years include all schedules.

If you own Rental Property:

❏ Personal signed tax returns for the last 2 years, including all schedules.
❏ Most current and signed rental agreement(s)

If you receive a Pension:

❏ Most recent Pension Award letter
❏ Copy of pension checks, if check is direct deposited, provide most recent 3 months bank statements showing deposits
❏ Personal signed tax returns for the last 2 years, including all schedules
❏ 1099Rs for past 2 years

If you receive Social Security:

❏ Copy of most current Social Security Award letter & copy of social security check, if direct deposited, please provide most recent 3 months of bank statements showing deposit.
❏ Personal signed tax returns for the last 2 years including all schedules
❏ 1099s for past 2 years

If you receive child support, alimony or separate maintenance, and wish to use the income for qualifying purposes:

❏ Complete copy of executed divorce decree and separation agreement
❏ Personal signed tax returns for the last 2 years including all schedules

2. Asset Verification:

❏ Most recent 2 months bank statements (complete with all pages) on all asset accounts including retirement accounts. Be sure that the statements have your name, address, and account numbers on them.

3. Transaction Type:

If this is a Refinance:

❏ Most recent mortgage billing statement
❏ Current Homeowner’s Insurance Declaration Page
❏ Most recently paid Real Estate Tax Bill
❏ Copy of your Deed
❏ Copy of your Mortgage Survey Plot Plan

If this is a Purchase:

❏ A fully executed Purchase and Sale agreement on home being purchased, as well as on the home being sold (if applicable)
❏ Copy of the front and back of deposit checks
❏ Seller’s Agent Name, Email, and Phone Number
❏ Buyer’s Agent Name, Email, and Phone Number
❏ Attorney’s Name, Email, and Phone Number

If part of your down payment is a gift:

❏ A signed gift letter (we will provide you with the form to be completed)
❏ Copy of cleared gift check
❏ Copy of bank statement or transaction history to verify check was deposited into your account

If the property is a condominium:

❏ Condo Declarations, Master Deed, and Bylaws
❏ Current Homeowner’s Association Budget
❏ Management Company Agreement (if applicable)
❏ Copy of Declaration page from the Master Insurance Policy that reflects hazard, liability, fidelity bond and flood insurance if applicable
❏ Condo Questionnaire (to be completed by management company or unit owner other than seller)

If the property is held in a Trust:

❏ Copy of the Trust and the Schedule of Beneficiaries

If you’re currently renting:

❏ 12 months of your rent receipts or cancelled checks or a landlord letter

4. Identity Verification: 

❏ Copy of your current Driver’s License and Social Security Card
❏ Permanent Resident Card, if applicable
❏ Copy of H1-B visa approval, if applicable

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