Home at Dusk. Learn about items needed for a mortgage.

Borrower Mortgage Checklist

If you are applying for a fully documented mortgage loan, you can use the following checklist to help you get a head start on the process. I may be recommended that you begin organizing the following information in preparation for your transaction.

Here is a partial list of what we may need to process your home loan:

  • Completed Uniform Residential Loan Application. You can likely get this done over the telephone or by mail.
  • Copy of your most recent pay stubs showing past 30 days worth of pay.
  • If you are self-employed or a commissioned employee we will want to see the last one to two years of your tax returns - ask your mortgage professional for details.
  • If you have ownership interest in a Corporation or Partnership exceeding 25%, a lender may require your business tax returns for the past two years - including a profit and loss statement and a corporate balance sheet.
  • One to two months of bank statements (ALL PAGES - even the ones that say "this page is intentionally left blank")
  • Banking account and retirement account statements - if being used to qualify (ALL PAGES - even the ones that say "this page is intentionally left blank").
  • Copy of the Purchase and Sales Contract - if you are conducting a purchase transaction. The contract must be signed by all parties.
  • The contact information for your insurance company and your settlement agent (attorney or title company).
  • If you are part of a homeowners association, the lender mayl need the contact information of the person in charge of the HOA. They may require that you have a condo questionnaire completed so that they can verify that there is liability coverage in place over the common areas.
  • A current mortgage statement is helpful for refinance transactions.
  • If you want to subordinate your current second mortgage, the lender may need a copy of the note for the second loan. You will also likely need to ask your current lender to send a copy of their subordination requirements.

To learn more about applying for a mortgage and the various requirements, contact several lenders and brokers serving your state using the button below:

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