Mortgage Document Checklist

DOCUMENTS NEEDED for Pre-Approval and Underwriting

Identity and income verification

□ Full legal name, Social Security number, and birth date (in some cases, you may be asked to provide a copy of your Social Security card)
□ Phone number, email address, and current and former residential mailing addresses over the last two years
□ Primary and secondary income amounts and sources
□ Government-issued photo ID
□ Name, addresses, and phone numbers of all employers over the last two years
□ Values of bank, retirement, investment, and other asset accounts
□ Monthly debt obligations
□ Address of property being purchased, year built, estimated down-payment amount, and purchase price
□ Estimates of annual property taxes, homeowners insurance, and any homeowner association dues

Credit verification

□ Credit explanation letter for late payments, collections, judgments, or other derogatory items in credit history
□ Source of funds documentation for any large deposits on asset or bank statements
□ Judicial decree or court order for each obligation due to legal action
□ Bankruptcy / discharge papers for any bankruptcies in credit history
□ Payment history for public utilities, phone, cable TV, car insurance, and other expenses

Income verification – self-employed

□ Federal tax returns (personal and business) for the past three years
□ Profit and loss statement – year-to-date
□ List of all business debts

Income/tax documents

□ IRS Form 4506-T – Request for tax transcript, completed, signed and dated
□ Pay stubs covering the last 30 days
□ W-2s for the past two years
□ Federal tax returns (1040s) for the past two years
□ Asset/bank statements – Most recent two months’ statements for all accounts listed on the application (include all pages of the statement, including ones that are blank)
□ Written explanation if employed less than two years or employment gap exists within the last two years

Other

□ Homeowners insurance information, including agent’s name and phone number
□ Purchase contract signed by all parties

Shashank Shekhar

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Amazon.com Best-selling author, Shashank Shekhar (NMLS 8176) is a mortgage lender with Arcus Lending, offering loans for home purchase and refinance. Shashank has been featured as a mortgage expert on Yahoo! News, ABC, CBS, NBC and FOX. He has been named "Top 40 under 40" most influential mortgage professionals in the country.