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

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

• 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.

Rent:
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.

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.