The Ultimate Mortgage Checklist

Income Verification

Lenders need to verify your steady income to ensure you can comfortably make monthly mortgage payments.

• W-2 forms for the past two years
• Pay stubs for the last 30 days (showing year-to-date income)
• Federal tax returns (1040s) for the past two years (all pages and schedules)
• 1099 forms for the past two years (if applicable)
• Proof of additional income (alimony, child support, pensions, etc.)
• Social Security award letter (if applicable)
• Disability income verification (if applicable)

Self-Employed / Business Owners

If you own a business or are self-employed, additional documentation is required to verify your income stability.

• Year-to-date profit and loss (P&L) statement
• Current balance sheet
• Business tax returns (1120, 1120S, or 1065) for the past two years
• K-1 schedules for the past two years
• CPA letter verifying business ownership and duration
• Business bank statements for the last 3-12 months (for Bank Statement Loans)

Assets & Reserves

We need to verify you have enough funds for the down payment, closing costs, and emergency reserves.

• Bank statements for the past two months (all pages, even if blank)
• Investment account statements (401k, IRAs, stocks, bonds) for the past two months
• Gift letter and proof of transfer (if receiving down payment funds from a relative)
• Proof of earnest money deposit (copy of canceled check or wire receipt)
• Explanation for any recent large, unusual deposits

Personal & Credit Information

Your identity and credit history are fundamental to securing a favorable mortgage rate.

• Copy of valid driver's license, passport, or state ID
• Social Security Card
• Resident alien card or visa (if applicable)
• Divorce decree or court orders (if paying/receiving child support or alimony)
• Bankruptcy or discharge papers (if applicable)
• Letter of explanation for any late payments or credit inquiries
• Rental history for the past 12-24 months and landlord contact info

Property Details (If already chosen)

If you have already found your dream home, we'll need these documents to finalize the loan.

• Fully executed purchase agreement signed by all buyers and sellers
• Contact info for your real estate agent
• Homeowners insurance agent contact info and quote
• Condo association contact info and master insurance policy (if buying a condominium)
• Property tax bill (if refinancing)
• Current mortgage statement (if refinancing)

Special Programs (VA, FHA, USDA, DPA)

Certain loan programs require specific documentation.

• DD-214 or Certificate of Eligibility (COE) for VA Loans
• Statement of service (if currently active duty military)
• Proof of disability income from VA (if applicable)
• First-time homebuyer course completion certificate (for certain DPA programs)
• Proof of USDA geographical eligibility (if applicable)

Real Estate Investors

If you are purchasing an investment property, you may need to provide additional details.

• Current lease agreements for all owned rental properties
• Schedule E from personal tax returns
• Property management agreements (if applicable)
• DSCR (Debt Service Coverage Ratio) appraisal request details

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