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Your Mortgage App Documentation Checklist

Congratulations!  You’ve decided to buy a home, one of the largest purchases you will make.  Whether you’re looking to get out of the rental market, expanding your family, or downsizing, home buying can be a stressful experience without a proper checklist.

Applying for a mortgage doesn’t have to be stressful, if you’re well prepared.  Here is a list of documents that you should have ready, to help make the process move quickly and smoothly.

As always, the lenders at Great River are here to walk you through the process!


Bring your Photo ID, social security card, passport, or other acceptable forms of ID.

Why? This verifies your identity and helps prevent loan fraud.

Proof of Income

  • 2 most recent Federal and State Tax Returns
  • W-2 – Last 2 years
  • Paystubs – 30 days most recent paystubs

Why? These give lenders the ability to verify income to assess your ability to make mortgage payments.

Self-employed, freelancers, and independent contractors:
Self-employed borrowers, including sole proprietors, partnerships, and S-corporations, need a year-to-date profit and loss statement and two years of records. This includes the form 1099s you used to report income and file taxes.

Real estate income:
Document the rental income, address, lease, and current market value of a rental property, if you will use this income to qualify for a mortgage.


  • Most recent 60 days of bank statements (all pages)
    Why? This helps lenders verify assets and income.

  • Most recent Retirement/401k, and Investment Account Statements (all pages)
    Why?  Lenders need to assess your long-term savings, which counts as money toward your reserves.


Monthly Debt Payments:
Lenders examine your payment obligations to calculate your debt-to-income ratio.  List all monthly debt payments, including student loans, auto loans, mortgage, and credit cards.  Include loan balance and minimum payment amount.

If you have no credit history, utility bills or records of other regular payments may be used to help you qualify for a mortgage.

Real Estate Debt:
If you currently have a mortgage, have your most recent statement – showing the loan number, monthly payment, loan balance, and the lender’s name and address.


Why? Lenders examine your payment obligations to calculate your debt-to-income ratio.

Other Records

Renters need to show payments for the past 12 months and provide landlord contact information for the past two years.


Why? Lenders look for potential lending risk, so they would like to see that you’ve paid on time and in-full each month.

Down Payment Gift Letters

Lenders will want to talk about your down payment.  You’ll need to show the sources of the money you plan to use.  If your funds include gifts, you’ll need to get letters from your donors showing they don’t expect to be paid back.  Gift letters aren’t required for pre-approval.

Contact a Mortgage Officer

Please remember that our Mortgage Team is here to help throughout your home buying experience.  From the initial pre-approval that can be done in 30 minutes or less, to helping you gather the information needed to complete your mortgage, to the closing on your new home.   Let us be there every step of the way!

 Stefan Schpuntow

Stefan Schpuntow


“It always takes less time to do it right the first time.”  A common phrase Stefan thinks of when he works on advancing his craft of helping members with their real estate needs.  He does so by encouraging and researching smart lending options for them after listening to their stories. 

Work with Stefan


 [email protected]

Visit his website

NMLS# 1023545

Staff NMLS#
CU NMLS #403283