Documents to Gather for Mortgage Loan Application

What are the requirements for writing a Purchase Offer when I find the house I want?

Most sellers will not accept an offer unless you are pre-approved. A pre-approval letter from a bank or a lender shows how much they will lend you. Getting pre-approved for a loan helps establish your price range and how much you can afford. It also shows the seller your offer is serious.

Also, when you make an offer it is customary to also include an earnest money deposit of a certain percentage of the home price. These deposit amounts vary between areas of the country. A general rule of thumb is to estimate about 1% of the offered price. The check for this is usually given to your real estate agent at the time of offer or within a few days of your offer being accepted. Don’t worry- this money sits in a third party escrow bank account until your closing day and is then credited back to you at settlement towards the money you bring to closing.

If you are making an offer on a foreclosure property (REO or real-estate-owned) you may be required to submit a certified check rather than a personal check. If you are paying for your home in all cash the seller may require proof that you have the funds available to close. This could be satisfied by providing a copy of a bank or stock statement. Ask your agent for more details on your specific situation.



Here they are again:

Gather all of the following documents before you meet with your loan officer. Just to be safe, make sure you don't pack these as you prepare for your move since your lender may ask for additional documents during the application process.

Work History

  • W2 forms from past two years
  • Pay stubs for the past 1-3 months
  • Personal tax returns for the past two years
  • If self-employed:
    Business and personal tax returns for the past two years
    Year-to-date profit and loss statement
    Year-to-date balance sheet

Credit Rating and History

  • Credit report
  • Credit score
    Note: Your loan officer will pull a copy of your credit report and score. But it’s a good idea to check them ahead of time. You can get your credit score or credit reports online for free from sites like our partner Credit Karma.

Total Debt

Names, balances, & account numbers for all:

  • Credit cards
  • Student loans
  • Car loans
  • Store lines of credit
  • Other consumer debt with recurring monthly payments
  • Alimony payments
  • Child support payments
  • Divorce decree

Down Payment

  • Documentation of down payment, such as a previous two month’s bank statements (all pages) showing account balance for checking and savings accounts

Investments and Other Assets

  • Two months of statements (all pages) reflecting stocks, bonds, or other investment accounts
  • Retirement account statements (401(k), IRA)

Residence History for Previous Two Years

  • Name and phone number of landlord (if renting)
  • Current mortgage documentation (if you own a home already)

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