Not all mortgages are the same and they’re usually divided into two categories… conventional and government loans. Additionally, they may be classified as fixed rate mortgages, adjustable rate mortgages (ARMs)An adjustable rate mortgage (ARM) is a variable rate mortgage… the interest rate on the loan is periodically adjusted based on the financial index. or a combination of the two. As such, they may require varying documentation. The following is a general list of the types of documents and documentation you may need in order to apply for your particular home loan.

Keep in mind that the mortgage program that fits your particular needs may require more documentation than outlined below. The opposite is also true. Your loan program may just require less documentation than we’ve listed below. But please feel free to use this list as a good start toward gathering the paperwork needed in order to apply for your mortgage.

You may need:

  • Your W-2 statements from the past two (2) years
  • Your pay stubs from the last (30) thirty days
  • Your two most recent monthly bank statements and/or brokerage statements
  • The most recent statement(s) of your 401K and/or IRA
  • The purchase and sale agreement for your new home
  • If you are currently renting, you’ll need to provide your last twelve (12) months of canceled rent checks and/or the name and address of your current landlord
  • If you are divorced, you’ll need to provide a fully executed divorce decree
  • If you are refinancing your current mortgage, you’ll need to provide a copy of your current mortgage statements/bill and your homeowner’s insurance policy
  • If you have any known credit problems, you’ll need to provide a letter of explanation

If you are employed in sales or are paid by commission… if you are self-employed… and/or if you own rental real estate, you will need:

  • Signed personal tax returns, including all schedules, for the last two (2) years
  • If you are self-employed through a corporation or a partnership, you will need to provide the last two years of your corporate or partnership tax returns.
  • We’ll also need your accountant’s name and phone number.

If you have any questions, please contact us for a free, no-obligation consultation at 877-451-3100 or click here to contact us online.