Documentation for a mortgage application

It will take time to put these documents together, so doing it before you actually need them will help make the process easier!

Whether you’re getting pre-approved to find out what kind of mortgage you qualify for or have signed a contract subject to getting a loan or even refinancing your existing mortgage, borrowers need to produce a number of documents that will prove to the lender that the loan can be repaid.  Putting your hands on some of these things may take some time so it is a good idea to start early so you’ll have them available when they’re needed.

In most cases, the original document is not needed; copies will suffice. However, they will need the entire document with all the pages and supporting schedules such as in tax returns and bank statements.

Check with your lender to see if providing them digitally is acceptable; in most cases, it will be.

All Borrowers

  1. Driver’s License & Social Security card for all applicants
  2. Employment history for last two years with addresses and contacts
  3. Recent two years W-2 statements
  4. Recent two years’ tax returns
    • Complete returns & schedules
    • Personal and business if applicable
    • K1 forms if less than 25% owner
  5. Most current pay stubs/receipts for last 30 days
    • Social security or disability awards letter if applicable
  6. Proof of commissioned or bonus income
  7. Complete bank statements for all accounts for last two months
    • Explanation for unusually large deposits
  8. Quarterly statements for all IRA, 401k, CD, stocks, etc.
  9. Copy of sales contract*
  10. Insurance quote and agent contact information*

*If the loan application is made for pre-approval purposes, these items are not required until a home has been contracted for.  At this time, the borrower will be required to pay for the appraisal.

Documents may be required

  • Previous bankruptcy requires petition for bankruptcy and discharge including supporting schedule
  • Divorce decree if applicable
  • VA loans require copy of DD214 discharge paper
  • Gift letters if applicable

Refinance situations

  • Copy of note, settlement statement and survey

McKee Smith, REALTOR®, is an experienced real estate agent that specializes in the Dallas and Fort Worth market. He understands the intricacies of the DFW housing market. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!

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