Things to Show Mortgage Lenders

Details about the personal, employment and financial information your mortgage broker will request.

Let the mortgage professional know what sorts of programs you are interested in or leaning towards. They'll ask you to complete the 1003 form and will almost universally ask you to give them the names, birthdates, and social security numbers for all mortgage applicants (you and whomever else you are buying the place with) over the phone, so they can run your credit reports. Not a big deal, so long as you selected this individual by referral or otherwise know that they are connected with a legitimate enterprise.

At some point in the near future, they will also ask you to bring or send them a list of paperwork. Start gathering these things now, so that it's not a huge burden or rush to do it when you need to. Keep a file on your desk and as updated items on this list come in the mail or you come across them, just stick them in there so you don't have to go on a scavenger hunt when the time comes!

Personal Information

  1. Full name of all persons applying for the loan along with their social security cards -- the original blue card;
  2. Your home address, including zip code, for the last 24 months and the names and addresses of landlords and/or mortgage lenders.

Employment Information

  1. Name and complete address of employers (for all applicants) for the last 24 months;
  2. Last two years' W-2 forms for all applicants;
  3. Most recent pay stubs covering one full month and year-to-date info for all applicants;
  4. Verification of any other income to be used for qualification purposes;
  5. If any applicant is self-employed, bring copies of your current profit and loss statement, a current balance sheet, and Income Tax Returns for the past two years, both personal and business.

Financial Information

  1. A list of account numbers, current balances, and complete bank/credit union addresses for all checking and/or savings accounts;
  2. Copies of your last two months' checking and savings account statements;
  3. Copies of most recent investment and retirement account statements, if applicable;
  4. If any buyer is obligated to pay alimony, child support, or separate maintenance, bring a copy of the recorded divorce decree and/or maintenance agreement;
  5. If any applicant owns other real estate, please provide a list of all income, copies of all leases and/or rental agreements, names and addresses of all lenders, loan numbers, loan balances, and monthly payments.

Tip: You don't need to bring a detailed list of all your credit card accounts and other debts to your mortgage professional. She'll pull them into the loan application directly from her digital version of your credit report.

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