If you are looking to get a jump start on gathering the information necessary to get a mortgage, here is a mortgage checklist that will get you well on your way to being ready:
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Mortgage Checklist: Information that will be asked for on the application:
- Your name as it will appear on the contract
- Your date of birth and social security number. (Do not send this information via email. Only over the phone or via a secure portal).
- Your residence history for the past 2 years. Addresses and dates lived there will be required.
- Your work history for the last two years. Employer names, address, phone number, job title and dates employed will be requested.
- A list of assets you will be using for the transaction. Institution, account number, balance will be requested.
- A list of all real estate you own.
Mortgage Checklist: Credit Documentation you will be asked for:
- A copy of your Purchase offer.
- Your most recent two months bank statements. All Pages even if blank.
- Tip: If there are large deposits, have supporting documentation to show the source of those funds.
- A month worth of paystubs.
- Your last 2 years of W-2s. This includes previous employers.
- If you are self-employed, you will need to provide the most recent 2 years Federal Tax returns (All Schedules) and a Year to Date Profit and Loss.
- Tip: If you are a Corporation or Partnership, K-1’s and 1120’s maybe requested.
- If you own other property, a current mortgage statement for each is very useful.
- If you have been recently divorced or separated, divorce decree and/or separation paperwork.
- If you are a Veteran and planning on using your eligibility, your DD-214 or Certificate of Eligibility.
- If you are planning on using a trust, the trust documents will be needed.
- If you have filed bankruptcy, please gather up your bankruptcy paperwork.
Now That You Know What’s On Your Mortgage Checklist, Get Started Today
The above mortgage checklist is a guide to what you’ll need to apply for a mortgage.
Even if you don’t have every single thing readily available from this mortgage checklist, you can still get started on applying for a mortgage. That’s because our online mortgage application allows you to start, stop and pick up where you left off on your schedule.
Applying for a mortgage online from Paragon Home Loans makes the process convenient, secure and simple.
Whether you’ve got some or all of your mortgage checklist complete, now is the time take the first step to making your dream home a reality. To get started…