Mortgage Information

Mortgage Application Made Easy

Whether you're buying a new home or refinancing your existing home, applying for a mortgage can be both exciting and confusing. Once you have selected a lender, you'll need to set up a time with a mortgage officer to complete an application.

There are many documents which the lender will review with you and have you sign. What's more, you'll need to present verification of your income, assets and other financial information.

Below is a comprehensive checklist of what is generally needed when you apply for a mortgage. If you have these items with you, it will speed the application process and you'll have an answer on your mortgage sooner.

Use the checklist below when gathering information for the appointment with your mortgage representative.

In the boxes below, select "Have" or "N/A (not applicable)"

Income / Employment
CheckBox Have
CheckBox N/A
W-2 forms or signed personal Federal Income Tax Returns for the previous two years. Personal Federal Income Tax Returns will be required for self-employed or commissioned applicants.
CheckBox Have
CheckBox N/A
A copy of your pay stub covering the most recent 30 day period.
CheckBox Have
CheckBox N/A
Addresses for all employers within the past two years.
CheckBox Have
CheckBox N/A
If you're self-employed (proprietorship, partnership or sub-chapter S) bring a copy of certified profit and loss statements, business Federal Tax Returns and balance sheets for the last two years. (Last two years' Corporate Tax Returns if you own 215% or more of the corporation.)
CheckBox Have
CheckBox N/A

If you receive income from Social Security, or receive any other type of disability or governmental supplementary income, bring copies of your approved award letter from that governmental agency or insurance carrier.
CheckBox Have
CheckBox N/A
If you receive pension income, bring a copy of your pension/annuity award letter from the fund.
Support
CheckBox Have
CheckBox N/A
If you wish to disclose income from child support or alimony payments, bring the appropriate verification including the divorce decree and settlement agreement.
CheckBox Have
CheckBox N/A
If you are obligated to pay child support or alimony payments, bring evidence of the last 12 months payments or a computer statement from the family division (orphans court), the settlement agreement and the divorce decree.
Investments / Deposits
CheckBox Have
CheckBox N/A
Statements of all bank accounts including deposits for the last three months and investment items, including stocks, bonds, etc. If you do not have a statement, bring your account number and addresses of all financial institutions.
CheckBox Have
CheckBox N/A
A list of any of your real estate investments including: property addresses, mortgagee addresses and loan numbers. Also, include the estimated value, gross monthly rental expenses, monthly mortgage payment, net monthly rental, type of property and mortgage balance.
Debts / Obligations
CheckBox Have
CheckBox N/A
A list of all of your financial obligations, including lender addresses, loan balances, original amounts, monthly payments and number of payments remaining. Be sure to include school loans, credit cards and home equity loans.
Purchase Information (Not required for mortgage refinance.)
CheckBox Have
CheckBox N/A
A completed and signed sales agreement for the purchased property.
CheckBox Have
CheckBox N/A
A receipt for all earnest deposit/hand monies and/or a copy of the cancelled check written to the real estate company.
Current Residence
CheckBox Have
CheckBox N/A
Addresses for all the places in which you've resided within the past two years.
CheckBox Have
CheckBox N/A
Title policy, deed and survey on your current residence if you are refinancing. Also, you'll need to provide information on annual taxes, hazard insurance premium, mortgage balance, address of the mortgage holder and the account number.
CheckBox Have
CheckBox N/A
Copies of any rental leases for property currently leased by or from you. If you are currently renting, have the name and address of the landlord or the recent 12 months cancelled checks for rent payments.

In general, when you apply for a mortgage, bring anything that can be photocopied and used to verify your income, assets and obligations. It will significantly speed up the processing of your application.

Also be prepared to write a check for the application fee quoted to you when the appointment was set.

To try our mortgage calculators, click here.



The information presented in this publication is general in nature; it is not our intention to provide specific advice to individuals or a comprehensive discussion of the subject matter. We suggest that you consult with your financial or tax advisor, accountant or attorney to obtain specific advice or comprehensive information.
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