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:
