Mortgage Application Checklist
Last Updated: August 31, 2022

Mortgage Application Checklist

When applying for a mortgage, you want to have all the information on hand to make sure you get approved immediately. Before you get concerned about the amount of data you submit, we put this mortgage application checklist together to help you prepare.

Identity Verification (Borrowers Information)

  • Full Name
  • Social security number (You may be asked to provide a copy of your social security card).
  • Government-issued photo ID (driver’s license or passport)
  • Date of birth
  • Current address (residence for the last 2 years)
  • Phone number
  • Email Address

Income Verification

  • Last 2 years of employment history
  • Name and address of all employers (2 years)
  • Pay stubs
  • W-2s from the last 2 years
  • Federal tax returns from the last 2 years
  • Pension, retirement benefits, and social security award letters (if applicable)
  • Letter of explanation for any employment gaps
  • Alimony or child support income (if applicable)
  • Proof of any supplemental income
  • Tax Transcript (IRS form 4506-T signed and dated)

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Income verification If Self-Employed

  • Profit & Loss Statement (year to date)
  • Personal and Business federal tax returns for the past three years
  • List of all business debts

Credit Verification

  • Letter of explanation for late payments, bankruptcy, collections, and judgments in credit history.
  • Bankruptcy discharge letter
  • A copy of the divorce decree
  • Mortgage lender’s information and address for any real estate you own.
  • Verification of rental payment history, public utilities, phone, car insurance, and other expenses.

Tips About The Documents

Some lenders may want more or less information from you, depending on your unique situation.

  • If you’ve lived in your current address for less than two years, be prepared to supply all previous addresses for the seven years.
  • If you have not established credit, your lender will want to see more documents showing you can afford the mortgage loan.
  • Your ethnicity and race will be asked to make sure that everyone is being treated fairly (although you can decline to answer).
  • You will be asked if you are a U.S Citizen or a resident alien.
  • If you’re getting alimony or child support income, you do not have to disclose it unless you want the lender to consider it as additional income for your qualification.

The lenders will run your report using your identity verification information.

Online Mortgage Applications

Be prepared to fill out an application online, and remember that with automation, certain information is verified automatically. For example, today, mortgage companies can automatically verify employment, phone numbers, and other personal information. This automation makes the process faster and easier for you as the borrower.

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