Mortgage Application Checklist

General Information You May Need to Finalize Your Mortgage Application

	Social Security Number For borrower and co-borrower
	Employment History Employment for two years; dates and addresses; salary; current pay stubs or W-2 forms
	Check and Savings Accounts and Certificates of Deposits Location of bank accounts, account numbers and balances; address of bank if out of town and be prepared to provide the last 3 months statements
	Stocks, Bonds, and Investment Accounts Broker's name and address, description of stocks, bonds, etc. and the last 3 months statements or copies of stock certificates
	Life Insurance Policies Insurance company, policy number, face amount, cash value, if any
	Retirement Plan Approximate vested interest value, copy of latest statement
	Automobiles Make and model of automobiles, their resale value if possible
	Other Assets Market value of personal and household property
	Liabilities and Other Non-Mortgage Debt Creditors names, addresses, account numbers, monthly payments, and balances

Real Estate Information You May Need to Finalize Your Mortgage Application

	Current Property Information: If you own real estate Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances
	You've sold your home but not closed A copy of the sales contract
	You've sold your home, closed, and will be used for down payment A copy of the HUD 1 Uniform Settlement Statement
	If you rent Name, address and phone number of landlords for the past 24 months
	Property Being Purchased Purchase sales contract or offer to purchase and all addendums Furnish contract with original signatures of buyer and seller

Other Documents That You May Need to Finalize Your Mortgage Application

	Gifts to be used to qualify If a source of your down payment is a gift, provide name, address and relationship of donor. Gift funds will be verified in both the donor and recipient's accounts.
	FHA Financing Provide evidence of Social Security Number and photo identification
	VA Financing Provide DD214 and Certificate of Eligibility
	Construction/Perm Loan Signed construction with cost breakdown, builder plan and specifications

Income Documents That You May Need to Finalize Your Mortgage Application

	If Self-employed Furnish 2 years tax returns, profit and loss statements, both company and personal if separate. Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
	Non-salaried Income Personal federal income tax returns for the past 2 years, if you have income from: Commission Overtime Bonus Partnership Rental Property Trust Notes Receivable Interest/Dividends
	Employed in Family Business Personal federal income tax returns and all schedules (past 2 years)
	Divorced or Separated Complete executed divorce decree and settlement agreement. Payment history of alimony/child support over the past 12 months, if it is a financial obligation. If you choose to have this be considered as part of your income, be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.

Application Costs You Need to Consider

Application Processing Fees:

There are fees associated with the mortgage application that may vary by lending institution. Credit report fees can cost from $25-50. The appraisal can run anywhere from $250-500, depending on the area of the property that needs to be appraised.
Check with your lending institution for exact fee-related charges. Some lenders may require that you pay the fees upfront before they process your application