Embarking on the journey to secure a mortgage loan is an exciting step towards homeownership. However, having a comprehensive list of required documents is essential.
Gathering the necessary paperwork will help streamline your loan application. Get ready to ace your mortgage loan application with this checklist!
- Copy of Sales Contract (on the purchase of your home)
- Copy of Sales Contract and certified copy of Closing Statement (on the sale of your present home)
- Residence history
- Past 24 months of residence with complete addresses
- Length of time you lived at each residence
- Name of landlord and his/her address (if currently renting)
- Employment history
- Employers for the past two years with complete address
- W-2s for the past two years
- Most recent two years’ tax returns (with all schedules)
- Year-to-date profit and loss statement and current balance sheet (if self-employed)
- If there have been any gaps in your employment, be prepared to explain
- Copies of the most recent monthly statements for all loans or credit card balances
- Copies of the most recent three months’ bank statements for all accounts, stock brokerages, mutual funds, IRAs, pensions, etc.
- Current real estate
- Property address
- Estimated market value
- Outstanding loan balance (bring a copy of most recent loan statement)
- Amount of monthly mortgage loan payment
- Amount of monthly rental income, if any (copy of the rental agreement)
- Personal property
- Net cash value of your life insurance
- Year, make, and value of all vehicles
- Value of your furniture and personal property
- Miscellaneous (if applicable): copy of divorce papers (all papers including marital termination agreement and final decree signed by the courts), certificate of eligibility and DD214 (for VA loans only), copy of driver’s license and Social Security card (for FHA loans only)
As you prepare for your mortgage loan application, remember that you don’t have to navigate this process alone. Our team of experienced real estate specialists at Surterre Properties is here to support you. We will provide expert guidance and personalized assistance to help you secure the perfect loan for your needs. Contact us today at SurterreProperties.com to schedule a consultation and take the first step towards achieving your homeownership goals.
