There is no getting around the amount of documentation needed to acquire a mortgage in a post-recession world. When you are applying for a mortgage you will face more paperwork than ever before. It is a good idea to go ahead and gather some of the essentials needed prior to submitting a mortgage loan application to help the process move along as smoothly as possible. Below is a list of documents that are usually required to complete a mortgage loan application. Your mortgage loan originator can tell you about any additional requirements or documents that may be needed to close on your new home.
- Social Security number
- Two forms of government identification
- W-2 forms from the previous two years if you collect a paycheck
- Profit and Loss statements or 1099 forms is you own a business
- Recent paystubs
- Most recent federal tax return and possibly the last two tax returns
- A complete list of your debts
- A complete list of assets
- Cancelled checks for your rent or mortgage payments
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