Mortgage documentation: What you’ll
need to fully complete your mortgage application process.
Below, find a list of documentation most lenders request for verification of a home loan application for purchase or refinance.
But it’s not a “one-size-fits-all” mortgage checklist. You may need some items and not others, or all items, depending on your specific loan application. If you’re working with Guarantee Mortgage, then ask your Loan Advisor to help you tailor this checklist based on your situation.
For your mortgage, expect to provide copies of the following:
- Most recent paystubs covering the last 30 days
- W-2s for the last two calendar years
- Two most-recent statements for all checking, savings, CD, money market, and/or securities-brokerage accounts (please include all pages)
- Most recent statements for all retirement accounts (IRAs, SEP-IRAs, 401-(k)s or 403-(b)s)
- Most recent statement of stock options, employee stock option purchase plans, and similar if you’re using them as part of the down payment or for closing costs
- Federal tax returns (1040s) for the last two calendar years; please include complete returns with all schedules filed
- YTD Profit & Loss Statement if you’re self-employed or an independent contractor
- All federal K-1s, partnership returns (1065s) and corporate or S-corp. returns (1120s or 1120-Ss) for the last two calendar years
- Mortgage, real estate tax, and insurance premium statements for all properties currently owned
- Leases on all rental properties you may own, if applicable
- Complete bankruptcy papers, if applicable
- Divorce decree and settlement statements, if applicable
- State-issued driver’s license or passport showing your date of birth to satisfy Patriot Act requirements
- If not a U.S. citizen: a resident alien card (front and back); resident alien application or H1B or L1 Visa plus passport as applicable
A few cautions when preparing to buy your home.
- Avoid moving money from one account to another. If you need to move money, establish a complete paper trail of the money leaving one account and entering another.
- Keep source documents for any large deposits (including gift money from relatives) into any account by making copies of deposited checks, deposit receipts, and wire-transfer orders.
- Avoid making large purchases on credit, as this may affect your credit score.
- Avoid actions that lead companies to pull your credit records, such as applying for financing with a car dealer or applying for a new credit card. If your credit record shows inquiries, you’ll need to provide letters explaining whether you obtained new credit because of the inquiries.
- Do not close credit card accounts or credit lines; call us before doing anything regarding your credit.
- If possible, avoid changing jobs during the loan process. If a lender approves your loan based on a set of circumstances that change after we submit the loan package, you’ll have to update the information and get the loan re-approved.
Have questions? Call us at 866-612-5050. Or email a Loan Advisor.