Tips

Mortgages


The following information & documents may be needed throughout the mortgage process:

- Valid Photo ID (license or passport)
- Divorce Decree and/or bankruptcy papers and/or child support orders (if applicable)
- Letters of explanation for credit events
- Trust agreements (if using trust assets or closing in a trust)
- Current pay stubs showing year to date earnings. (past days)
- Social Security or Pension Award letters (if required)
- Your tax returns for the past 2 years (if applicable)
- 1099′s for the past 2 years (if applicable)
- K-1′s for the past 2 years (if ownership in business)
- Business tax returns for the prior 2 years (all pages- if own more than 25% of business)
- Bank statements for the past 2 months (all pages)
- Investment account statements for the past 2 months (all pages)
- Retirement account statements for the past 2 months (all pages)
- Sale contract if applicable
- Name and number of homeowner’s agent
- W-2′s for the past 2 years
- DD214 (if applying for a VA loan)

If you own real estate:

- Mortgage account information
- Home insurance policy information and tax information
- Any applicable lease agreements

Once you’re approved:

- NEVER quit or change jobs.
- NEVER make a large purchase on a credit card or using store credit.
- NEVER apply for credit anywhere else or allow anyone to check/pull your credit.
- NEVER make an unusual or large bank deposit / withdrawal since doing such could be a red flag to the credit review processor for your loan.
- REMEMBER that your credit score WILL be checked again right before closing.