Mortgage Documents Checklist
Ready to take the leap into homeownership? Exciting times ahead! But before you dive in, let's talk about what you'll need for your mortgage application – think of it as your treasure map to homeownership. First up, proof of income – lenders love seeing your pay stubs, W-2s, or 1099s from the past couple of years. Next, proof of assets – we're talking bank statements and investment account statements to show you've got the funds for a down payment and closing costs. Don't forget your credit history – lenders will check this, but it's good to know where you stand. Self-employed? You'll need to provide additional documents like your profit and loss statements. And lastly, personal identification and employment verification are a must. This might sound like a lot, but don't worry, it's just part of the journey. Having these documents ready can make your mortgage application smoother than a well-oiled machine. So, gather up your paperwork and let's get you one step closer to your dream home!
Self Employed Borrower
Government issued photo ID: cannot be expired
1099 : most recent two (2) years (if applicable)
Personal and business tax returns: all pages, most recent two (2) years
2 Most recent K-1s for all K-1s listed on your Personal 1040 Tax Return
Business Tax Returns for any K-1s that show 25% or more ownership YTD Profit and Loss statement if you have not filed the most recent tax return year
Down Pavment Documentation - Two months most recent bank statements for ANY account that holds the closing funds. If you transfer amongst your accounts often, please send all bank statements
Personal & Business bank statements: all pages, most recent three (3) months
Reserves Documentation may apply: Retirement Statements/Mutual Funds 2 most recent months
Mortgage Statements for any owned properties - If you do not escrow, we will need insurance, HOA statement (if applicable) and county tax statements too
If Pension/Retirement/SS income applies
Two years most recent tax returns
Social security award letter/pension award letter
Two most recent bank statements to document deposits from pension/ retirement income
2 most recent year 1099s for SS/pension income
Salaried/Hourly Borrower
Government issued photo ID: cannot be expired
30 days most recent paystubs
W2s: most recent two (2) years
2 Most recent 1040 Tax Returns: all pages, all schedules
Name and contact information for your HR representative
Mortgage Statements for any owned properties -If you do not escrow, we will need insurance, HOA statement (if applicable) and county tax statements too
Down Payment Documentation - Two months most recent bank statements for ANY account that holds the closing funds. If you transfer amongst your accounts often, please send all bank statements
Reserves Documentation may apply: Retirement Statements/Mutual Funds 2 most recent months
If Pension/Retirement/S income applies
Two years most recent tax returns
Social security award letter/pension award letter
Two most recent bank statements to document deposits from pension/ retirement income
2 most recent year 1099s for SS/pension income
Source: CMG Mortgage
