What documentation will I need?

A sizable chunk of the time required to approve you for a mortgage is gathering and analyzing documentation that will help demonstrate your ability to repay the loan. The faster and more completely you are able to gather the required documentation, the faster your loan decision can come. The documentation required for your individual situation will vary, but the basics include the following.

Income Verification

  • Most recent 2 years Federal tax returns, including all pages and schedules
  • For all employers you’ve had, W-2 forms from the most recent 2 years
  • Your most recent 30 days’ paystubs
  • For the last 2 years, the following information for each employer
    1. Employer name
    2. Address
    3. Phone
    4. Position you held for the employer
  • If the following are part of your financial picture, the last 2 years of:
    1. 1099’s
    2. K-1’s
    3. Business tax returns

Identification

  • State issued photo ID
  • Social security card

Asset Verification

  • Most recent 60 days bank statements (Include all pages, even if blank. A transaction history is insufficient)
  • For any rental properties you have, copies of the associated mortgage statements

Other

  • If all or part of your down payment is coming from a gift, you will need “gift letter” from the source of the funds explaining that the funds are in fact a gift, not a loan.
  • For the homeowner’s insurance provider, the following:
    1. Provider name
    2. Agent name
    3. Address
    4. Phone
    5. Email