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Applying For A Mortgage: Documentation Checklist

By Erik Folgate

My wife and I are in the process of buying a house. We’ve owned one other piece of property in the past, but this time is much different. The market is different, the amount is much more, and we don’t have a loan from her parents for a down payment. If you are in the market for buying, you need to start collecting your financial documentation right now. Here is a somewhat comprehensive checklist for the documents that you loan processor will need to get you approved for a loan.

Make clear, legible copies of all of these documents:

  1. Driver’s License
  2. Social Security Card
  3. Last two checking account statements
  4. Last two savings account statements
  5. Last two 401k/IRA/Brokerage account statements
  6. Last two pay stubs for all places of work
  7. Last two W-2 forms
  8. Verification of Rent Form (if currently renting an apartment/house)

If you’ve just started a new job, you may need to get a letter from your employer verifying your income. Also, remember that any side income that you make throughout the year must have been claimed on a previous tax form in order to be considered for qualifying for a mortgage. Remember, everyone’s situation is different and every mortgage program is different. This checklist is just a start, and just this list alone will keep you busy for a couple of hours. I scanned all of my documents in to have electronic copies so that I could send them to the loan processor as needed. Good luck, and make sure that you claim all of your assets!

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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