Lender Checklist: What you might need for a Mortgage
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These items are things that might be required by your lender for a mortgage loan or refinance.
- Copy of driver's license and social security cards.
- Name, address and phone number for landlord for the previous 2 years (if renting).
- Written explanation of credit anomalies, including: late payments, credit inquiries within the last 90 days, charge-offs, collections, judgments and/or liens.
- Names, phone numbers and addresses of each employer (for the past 2 years), including dates of employment. If you work for a large company, you may want to contact human resources to find out which address should be provided for employment verifications.
- Signed credit card authorization for your appraisal fee (loan officer to provide CC form).
- Pay stubs for all borrowers for the last 30 days.
- W-2 forms for all employment for all borrowers for the previous 2 years.
- Complete copies of previous 2 years personal tax returns including all schedules.
- Personal tax returns (for the last 2 years including all schedules).
- Business tax returns (for the last 2 years including all schedules).
- Current YTD profit and loss statement
- 1099s if applicable.
If you own more than 25% of a business:
- Corporate or partnership tax returns (for the last 2 years including all schedules).
- Present value of all real estate owned.
- Copy of the past 2 months statements (including account names, account numbers, addresses, and balances) on the following accounts: Checking, Savings, Mutual fund accounts, Money market, Retirement accounts (IRA, 401k, etc.)
If you have made any large deposits to your accounts within the last 90 days:
- Source of deposit and explanation letter.
- Copy of deposit receipt.
- If the deposit was a gift, include a signed gift letter (loan officer will provide)
- Purchase agreement (if your loan officer doesn't have a copy already)
- Name and phone number of your homeowners insurance agent (you need to request an insurance quote from them as well)
- Copy of your cancelled earnest money & option fee checks.
- If you are in the process of selling your home (signed purchase agreement but you haven't closed yet), provide a copy of the purchase agreement as well as a copy of the HUD-1 settlement statement when it closes.
If you own rental property:
- Copies of current rental agreements, fully executed.
If you are refinancing:
- Copy of your mortgage statement if there is a lien to be paid off.
- Copy of your most recent homeowner's insurance bill.
If you have a pension:
- Pension award letter, pay stubs, and any forms showing duration of payments
- 2 years of 1099s.
If you receive social security and/or disability payments:
- Provide a copy of your award letter along with a recent check stub or copy of a bank statement if the funds are deposited electronically through direct deposit.
- 2 years of 1099s.
For VA loans:
- Copy of DD214 form (aka separation papers).
- If applicable, copies of 12 months of cancelled rent checks.
- If you were a full-time student during the last 2 years, a copy of your diploma or transcripts.
- Name, phone number, address and email address for your real estate agent (if unknown to your loan officer).
- If applicable, copy of your divorce decree, separation agreement, and all addenda for all divorced parties.
- If applicable, 12 months of cancelled alimony checks.
- If applicable, 12 months of cancelled child support checks. Copy of court order and ages of children.
- If you filed bankruptcy within the last 7 years, provide a copy of your bankruptcy papers.
- If you are not a U.S. citizen, provide a copy of the front and back of your green card.