What do I need to provide with my mortgage application?

Getting Ready to Buy? Wondering what you need to provide for your mortgage application?  Here are some of the commonly requested items...

ı W2's for the past 2 years (Unless you don't receive W2 income)

ı Your most recent pay stub for the past 30 days. (Ex: If paid weekly - provide last 4 stubs)

ı Copy of recent mortgage statement, tax bill, and insurance bill on any real estate properties you currently own.

ı Copy of your drivers license.

ı Copies of your 2 months most recent bank statements (all pages required) for any bank accounts listed on your application.  Examples are checking, savings, or Investment Accounts, Retirement Accounts

ı Copy of the Contract for the purchase of the new home (if you have it)

ı If you receive other income besides W2 income... (Required if applicable to show income from: rental property income, dividend income, partnerships, corporations, self employed 1099 income, etc)

ı If you own more then 25% of a Corporation or Partnership... Provide past 2 years of Complete Business Tax Returns.

ı If you receive pension or social security income... please provide a copy of the most recent award letter and 1099 forms for the past year or 2.

ı Divorce Decree... is often required, especially if you plan to use alimony or child support income to qualify for the loan. This is also needed if you pay out alimony or child support.

ı Gift Funds... Documentation is also required to prove funds are a gift - ask your mortgage resource.