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Applying for a Mortgage? Here’s Your Document Checklist

Image of a checklist and house. Applying for a MortgageApplying for a mortgage requires a lot of paperwork and documentation. However, if you come to your lender with all the documents they are likely to need, you can make the mortgage application process faster and less stressful. Here is a handy checklist of the most common documents you’ll need to have ready.

Before you apply for a  mortgage, gather the following documents:

 

 

General:

  • Driver’s Licenses for all applicants
  • Social Security Card (only on FHA and VA)
  • Resident Alien Card or VISA – when applicable

Income:

  • Most recent 30 days of pay stubs with year-to-date totals
  • W-2 forms and/or 1099s (past 2 years)
  • Verification of other income such as social security (provide award letter for current year), alimony, or child support (provide divorce decree)
  • Most current 2 years tax returns (Federal only including all schedules)
  • Partnerships, S-Corp, and/or Corporate Federal returns for the previous 2 years including all schedules and K1s
  • If you have rental property income: Copies of all lease/rental agreements

Assets:

  • Most recent 2 months (60 days) actual bank statements. Include all pages for both checking and savings accounts.
  • Most recent 2 months retirement and investment account statements. Include all pages.
  • Source of any non-direct deposit(s) that are greater than 50% of your monthly income.
  • Proof of where the earnest money funds will originate. Lenders need proof that the earnest money has cleared your account.
  • If you are receiving gift money for this transaction, additional documentation may be required.

Properties Owned:Image of a person applying for a mortgage by doing paperwork

  • Copy of current mortgage statement on all properties owned
  • Property tax information on all properties
  • Insurance Declarations page on all properties

Other:

  • Bankruptcy – Copy of discharge and schedule of creditors
  • Divorced? – If so please provide your Divorce Decree if less than 18 years ago
  • VA only – Copy of Form DD214
  • Self Employed – Copy of current business license

Keep in mind that everyone listed on the loan is applying for a mortgage and will need to provide their financial information. And don’t be alarmed if your lender asks you for more documents as they review your loan application. After all, the lender’s goal is to assess you as a borrower and ensure you can make your payments on time. As such, you’ll need to provide them with numerous documents to showcase your creditworthiness.

Whether you’re applying for a mortgage or wanting to sell your home, you can find many great real estate tips on our Facebook page. If you’re thinking about buying or selling a home, we can help! Contact us today!

 

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Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Is it time to sell your home? Why not have the #1 real estate team represent you?

We’re sure you have questions. And we are here to help. Contact us for information on anything real estate related.

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About Us

Leading the Pujals team are Jerry and Susan Pujals, who is ranked as the #1 Sales Team for California, Coldwell Banker Brokers of the Valley. Jerry, a Senior Broker, and Real Estate Advisor began his career in real estate with Coldwell Banker Brokers of the Valley in 1997. Susan, a seasoned Real Estate Sales Consultant joined the organization in 2008, which established the formation of The Pujals Team.

Having received national recognition for their performance and many local awards, Jerry and Susan are proud to be affiliated with Coldwell Banker Brokers of the Valley, Napa County’s real estate market leader for more than 20 years.[Read more]

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