Documents You Need for a Mortgage: A Recommended Checklist
February 10, 2025
If you have previously gone through the mortgage process or spoken with others who have, you understand how detailed and complex it can be. Staying organized and prepared ensures everyone involved is working efficiently.
To help you stay prepared throughout the mortgage process, we have compiled a checklist of documents we recommend having ready. This checklist is designed to make your experience smoother and orderly, removing any bottlenecks during the process. Keep in mind that your loan originator may request additional documents based on your specific financial situation, but this serves as an excellent starting point for most borrowers.
Requested Documents
To proceed with your mortgage application, you may need to provide your loan originator with several key documents. The most commonly requested documents include:
- Pay Stubs – Your most recent pay stubs covering a 30-day period.
- W-2 Forms – Copies of your W-2 forms from the past two years.
- Personal Tax Returns – Completed tax returns for the last two years, including all attached schedules.
- Bank Statements – The most recent two months of bank statements for all accounts (checking, savings, and money market). Ensure all pages are included, even if they are blank.
- Investment Account Statements – Your most recent quarterly statement or two consecutive monthly statements for 401(k)s, stocks, mutual funds, IRAs, and other investment accounts. Be sure to include all pages.
- Membership Account Information – Proof of your membership account with TVFCU.
Providing these documents promptly will help ensure a well-organized mortgage process.
Below are some additional documents that your loan originator will potentially ask you to provide:
Income Documentation – If you receive Social Security, pension, or disability income, please provide the most recent benefits statement or awards letter. Additionally, include your 1099 forms from the past two years.
Property Records
- Please provide a copy of the most recent mortgage statement for any properties you own.
- Include documentation of Homeowners Association (HOA) dues for all properties you own.
- Please provide the current homeowner's insurance declarations page for all properties you own.
Purchase Contract – For a new purchase, include a signed purchase contract and a copy of the earnest money deposit check. (Note: Cash payments are not accepted.)
Self-Employment Documentation – If you are self-employed, please provide your completed business tax returns for the past two years, including all schedules. Additionally, submit a year-to-date profit and loss statement to verify your current income.
Debt and Loan Records – For refinance transactions, please provide the most recent statements for any debts you intend to pay off as part of the loan process.
Legal Documents – If any of the following apply, please provide the corresponding documentation:
- Bankruptcy – If you have filed for bankruptcy within the past seven years, submit a complete copy of your bankruptcy documents, including all schedules and discharge paperwork.
- Divorce or Separation – Provide a complete copy of the divorce decree, separation agreement, and parenting plan, if applicable.
This checklist serves as a general guideline for the documents you may need when applying for a mortgage. However, your loan originator may request additional or different documentation based on your specific financial situation.
At TVFCU, we are committed to guiding you through the mortgage process and making it as seamless as possible. If you have any questions, please do not hesitate to contact us using the link below.
Related Links:
https://mortgage.tvfcu.com/MortgageTeamDirectory.html