Home loan checklist

How to qualify for a mortgage…

Getting pre-qualified for a loan takes a couple of minutes. But pre-approval will require careful examination of all the documents. That’s the only way for your loan officer to figure out how much house you can afford. Experienced loan originator can help you maximize your efforts by pointing out ways your loan application can look stronger. Are you worried about bad FICO or possibly not enough income or too low down payment? Make an appointment today and we’ll walk you through steps you need to take to qualify for a mortgage. Some things take time to fix but when you follow the plan we’ll get you pre-approved in no time.

Use this checklist to make sure you have everything you need before you begin your loan application. Having all necessary documentation up front saves time so your loan can close smoothly and quickly.

  1. Completed form 1003 – Uniform Loan Application Form
  2. 2 years of tax returns
  3. 2 years of W-2s
  4. If self-employed, 1099s and copy of business license
  5. Explanation letter if there are any gaps in last 2 years of employment
  6. Most recent (2 months) bank statements (all accounts and all pages)
  7. Explanation (signed and dated) of any deposits over $1,000 other than normal pay into accounts
  8. Most recent pay stubs (minimum of 30 days)
  9. Copy of driver’s license
  10. Copy of your social security card
  11. Explanation (signed and dated) of any inquiries on credit report
  12. Mortgage Statement, Insurance Declaration Page, and most recent tax statement for all other properties owned
  13. Divorce Decree and Separation Agreement (if applicable)
  14. Copy of Earnest Money Check & Purchase Contract
  15. Credit report

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