๐ Documents You'll Need When Applying for a Mortgage ๐ก
By Luke Grasso | NMLS #2638025
Donโt worry! This list may seem long, but many of these documents are things you already have on hand or can easily access. Letโs get organized to make your mortgage application process a breeze!
๐ Key Documents to Gather:
- ๐ณ Social Security number (or ITIN) for all borrowers
- ๐ Home addresses for the past 2 years
- ๐ Most recent pay stubs (covering at least 30 days of income)
- ๐ผ W-2 forms (last 2 years) or if self-employed, 1099s/K1s
- ๐ฐ Most recent Federal Tax Returns (last 2 years) โ personal & business if self-employed
- ๐ณ Bank statements (2-3 months) for checking, savings, retirement accounts, credit cards
- ๐ Details of other debts: car loans, student loans, etc.
- ๐ Social Security or pension award letter (if applicable)
- ๐ Profit and loss statement for self-employed borrowers
- ๐ Gift letter (if using gift money for down payment)
- ๐ Renters: Landlord name, address, phone number + proof of rent payments
๐ Additional Documents You May Need:
- ๐ Proof of ID (Driver's License, Passport)
- ๐ Social Security Card(s)
- ๐ถ Documentation of child support (if showing as income)
- ๐ก Monthly statements for any existing mortgages or home equity loans
- ๐ Signed purchase and sale agreement (if applicable)
- ๐ Bankruptcy paperwork (if filed in the last 7 years)
- โ ๏ธ Explanation for any credit issues (late payments, collections)
๐ก Tip: Gather these documents in advance to keep things moving smoothly when you're ready to apply for your mortgage!