Mortgage Application Checklist: What You'll Need

Every mortgage requires documentation, and gathering it is usually the slowest part of the process — not because any single item is hard to find, but because there are a lot of them. Having your paperwork organized before you apply is the single easiest way to speed things up. Below is what most borrowers need. Every situation is unique, so if your loan officer asks for something extra, providing it quickly keeps your file moving through underwriting.

Identity and residence

• Government-issued photo ID (driver's license or passport)
• Social Security number
• Residence addresses for the past two years
• Work visa or green card, copies of front and back, if applicable

Income and employment

For salaried and hourly (W-2) borrowers:

• Pay stubs covering the most recent 30 days, showing year-to-date earnings
• W-2 forms for the past two years
• Names and addresses of all employers for the past two years
• A letter explaining any gaps in employment during the past two years

If you are self-employed, or receive commission, bonus, interest, dividend, or rental income:

• Complete personal tax returns for the past two years, including all schedules, statements, and attachments (if you filed an extension, include a copy of the extension)
• A year-to-date profit and loss statement
• K-1s for all partnerships and S corporations for the past two years — double-check your return, since most K-1s are not attached to the 1040
• Signed federal partnership (1065) or corporate (1120) tax returns for the past two years, with all schedules, if your ownership stake is 25 percent or greater

If you receive other qualifying income:

• Social Security, disability, or VA benefits: the award letter from the agency or organization
• Alimony or child support you want counted as income: the divorce decree or court order stating the amount, plus proof you received the funds for the past year (this is optional — you only need to document it if you want it to count toward qualifying)

Assets, bank statements, and down payment

• Bank statements for your checking, savings, and money market accounts for the most recent two to three months — all pages, even the blank ones
• Statements for stocks, bonds, retirement, and brokerage accounts, or copies of certificates
• Verification of the earnest money deposit you placed on the home
• If part of your down payment is a gift: a signed gift letter and proof of receipt of funds
• If you are selling your current home to fund the purchase: a copy of the signed sales contract, or the listing agreement if it has not sold yet (you will provide the settlement statement at closing)

Your property

If you are buying:

• Copy of the signed sales contract, including all riders
• Names, addresses, and phone numbers of the realtors, builders, insurance agents, and attorneys involved
• Copy of the listing sheet and legal description, if available
• For a condominium: the condo declaration, bylaws, and most recent budget

If you are refinancing:

• Your most recent mortgage statement
• Homeowners insurance declaration page
• A copy of your survey or deed, if you have one

Debts and obligations

• A list of all current debts: creditor names, addresses, account numbers, balances, and monthly payments, with copies of the last three monthly statements
• Names, addresses, account numbers, balances, and payments for all mortgage holders or landlords covering the past two years
• If you pay alimony or child support: the marital settlement or court order stating the terms
• Payment for any application or appraisal fees, if applicable

Special situations

• VA loans: your Certificate of Eligibility (COE) — your loan officer can usually pull this for you
• Divorce: the full divorce decree and any marital settlement agreement
• Prior bankruptcy: discharge papers and a written explanation
• Prior foreclosure or short sale: dates and documentation

Ready to get started?

You do not need every document in hand to take the first step. Our Austin-based team can look at where you stand today, tell you exactly what your situation requires, and help you see what you may qualify for. When you are ready, reach out to a Barton Creek Lending Group loan officer and we will walk through the checklist together.