Mortgage Document Checklist

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Common preparation for most mortgage conversations

Everyone

Government-issued photo identificationA current driver’s license, state ID, passport, or other acceptable identification for each borrower.

Two-year address and housing historyCurrent and prior addresses, landlord information when renting, and current mortgage information when owning.

Recent personal bank and asset statementsInclude every page, even blank pages. Gather checking, savings, investment, retirement, or other accounts being used for funds or reserves.

Documentation for large or unusual depositsKeep records showing the source of deposits that may need to be explained during the review.

Current statements for debts not clearly shown on creditExamples may include child support obligations, payment plans, private loans, solar payments, or other recurring obligations.

Purchase contract and earnest-money evidenceOnce under contract, keep the fully executed agreement and documentation showing the earnest-money deposit and its source.

Divorce decree, separation agreement, or support ordersOften relevant when the documents create income, debt, property, or support obligations used in the loan review.

Bankruptcy, foreclosure, short-sale, or major credit-event documentsGather discharge papers, schedules, settlement statements, or explanatory documentation when applicable.

W-2 employment income

Salary, hourly, commission, bonus, overtime, seasonal, or multiple jobs

W-2

Most recent pay stubs with year-to-date earningsUse current, complete, legible pay stubs showing the employer and enough information to calculate income.

Most recent one or two years of W-2 formsThe exact period depends on the income type, program, automated verification, and underwriting findings.

Employer contact and employment historyProvide employer names, addresses, dates, positions, and contact information for verification.

History of commission, bonus, overtime, tips, or variable incomeAdditional pay stubs, W-2s, employment verification, or tax records may be requested when variable income is used.

Executed employment offer or contractUseful when qualifying with eligible future employment or a recently accepted position, subject to program requirements.

Active-duty military

Military compensation, duty status, and VA-loan planning

Active duty

Current Leave and Earnings StatementGather the most recent complete LES showing base pay, allowances, deductions, and year-to-date information.

Certificate of Eligibility or permission for the lender to obtain itThe COE confirms VA home-loan eligibility but does not by itself approve the mortgage.

Current orders or PCS ordersOften useful when the move, duty location, occupancy, or expected BAH is part of the transaction.

Statement of service or service verificationThe lender may request current service details when they are not established through other approved systems or documents.

Documentation for special, incentive, flight, sea, or other military payProvide orders, LES history, or other proof when the income is being considered for qualification.

Power of attorney and remote-closing planningDiscuss early when deployment, training, travel, or duty obligations could affect signing or closing.

Veterans and military retirees

VA eligibility, disability compensation, and retirement income

Veteran

Certificate of Eligibility or permission for the lender to obtain itThe lender can often retrieve the COE electronically. Additional service documents may be requested if eligibility cannot be established automatically.

DD Form 214 or other qualifying service documentationKeep a complete copy available when needed to establish or correct VA eligibility.

VA disability award or benefit documentationGather a current award or benefits letter and proof of receipt when VA disability income is being used.

Military retirement statements and tax formsRecent retirement pay statements, 1099-R forms, or related documentation may be requested when retirement income is used.

Documentation for surviving-spouse eligibilityAdditional VA and relationship documents may be needed for an eligible surviving-spouse VA loan.

Guard and Reserve

Drill income, orders, full-time service, and eligibility

Guard / Reserve

Current and recent military pay statementsGather LES or other pay records for drill, orders, AGR, technician, or other military compensation being used.

Current orders and history of ordersUseful when income depends on active orders or full-time military status.

Service or points statementMay help establish service history or VA eligibility when electronic records are incomplete.

Certificate of Eligibility or permission for the lender to obtain itAdditional service records may be requested when VA eligibility cannot be established automatically.

Civilian employment documentationAdd the W-2 or self-employed checklist when civilian income is also used to qualify.

Self-employed income

Sole proprietors, partnerships, corporations, LLCs, and contractors

Self-employed

Most recent personal federal tax returns when requestedInclude every page and schedule. The required history depends on the business, ownership, program, automated findings, and documentation alternatives.

Most recent business federal tax returnsMay include partnership, S corporation, C corporation, or other business returns with all schedules and K-1s.

Current year-to-date profit-and-loss statementPrepare an accurate current P&L covering the period since the last filed return.

Current balance sheetOften requested when needed to understand business condition, current financials, or use of business assets.

Recent business bank statementsMay be requested to support current cash flow, deposits, or the effect of withdrawing business funds for closing.

Business license, registration, ownership, or CPA-preparer informationKeep documents that establish the business, ownership percentage, start date, and continued operation.

1099 forms and current contract or income recordsUseful for independent contractors and borrowers with 1099 or contract income.

Rental-property income

Current rentals, newly acquired rentals, and departing residences

Rental income

Most recent federal tax returns with Schedule EInclude the complete return and rental schedules when tax-return rental history is used.

Current fully executed lease agreementsLeases may be used or requested depending on rental history, transaction type, and program requirements.

Current mortgage, insurance, tax, and HOA information for each rentalGather the full monthly property obligations and current account information.

Proof that lease payments have begunBank statements, electronic transfers, security deposit, or first month’s rent evidence may be requested for certain lease-based calculations.

Settlement statement or acquisition documentationUseful when a property was recently purchased, converted to a rental, or not reflected for a full year on tax returns.

Business returns and Form 8825Needed when rental activity is reported through a partnership or S corporation.

Other income sources

Retirement, Social Security, support, benefits, trust, or other recurring income

Other income

Current award, benefit, pension, retirement, or Social Security letterGather documentation stating the amount, source, and terms of the income being used.

Recent proof of receiptBank statements, payment histories, or account statements may be requested to verify current receipt.

Court order or written agreement for child support or alimonyOnly gather this when the borrower chooses to use the income or the obligation affects the loan review.

Trust agreement or trustee documentationProvide the sections establishing the borrower’s right to distributions, amount, frequency, and continuation.

Tax forms for retirement or other incomeExamples may include 1099-R, SSA-1099, or other relevant year-end forms.

Gift funds

Document the donor, amount, no-repayment statement, and transfer

Gift funds

Gift letter signed by the donorThe lender’s approved form typically identifies the donor, relationship, contact information, amount, and statement that repayment is not expected.

Evidence of donor fundsThe lender may need documentation showing the donor had sufficient funds available.

Evidence of the transferKeep the electronic transfer, check, deposit, closing-agent receipt, or settlement documentation requested by the lender.

Gift-of-equity or shared-residency documentationSpecial transactions or contribution rules may require additional evidence and lender guidance.

Refinance, HELOC, or home equity

Information about the current property and every existing lien

Current homeowner

Current first-mortgage statementGather the most recent statement showing the lender, balance, payment, and loan number.

Statements for HELOCs, second mortgages, solar liens, or other property-secured debtProvide current information for every lien or obligation connected to the property.

Homeowners-insurance declaration pageUse the current policy showing the property, coverage, policy period, and premium.

Property-tax and HOA informationGather the current tax bill and HOA statement when applicable.

Current title or vesting informationKeep deeds, trust documents, divorce orders, or other records that may affect ownership or vesting.

Home-improvement or payoff documentationMay be needed when equity proceeds will pay specific debts, contractors, or property-related obligations.

Build your document checklist

Which situations apply?

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W-2 employment income

Active-duty military

Veterans and military retirees

Guard and Reserve

Self-employed income

Rental-property income

Other income sources

Gift funds

Refinance, HELOC, or home equity

Monique will tailor it to your situation