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Documents you'll need for a mortgage loan

Picture of Dick Jeffress Dick Jeffress : Apr 10, 2023 4:59:35 PM

Mortgages First-Time Homebuyer Credit Score
Documents you'll need for a mortgage loan
Upon starting the application process for a mortgage loan, there are documents a lender will need from you in order to process your loan application.  
 
It's important to note that the documentation required can vary depending on the lender, your situation, and the type of loan you are applying for. However, the following is a list of the most common documents you be asked to provide

Documents a lender will ask for

Having these documents readily available will help ensure a smooth and efficient application process. 
  • Photo ids, such as a driver's license or passport.
  • Pay stubs to demonstrate your current income and employment status.
  • Bank statements from the past two to three months to show your savings and cash flow.
  • Tax returns and W-2 forms, as well as any other income documentation.

If you are self-employed

You will typically need to provide some additional documentation to verify your income and employment status.  Here are the most common:
  • Two years of personal and business tax returns, including all schedules and attachments
  • Profit and loss statements to provide a snapshot of your business's financial health and help determine your ability to repay the loan.
  • Several months of your business's bank statements to verify your income and expenses.
  • 1099 forms if you receive income from contract work to verify your income.

Every situation is different 

Again, the list above is simply the most common documentation you will be asked to provide to get you started. Depending on your situation and the type of loan, lenders may request other documentation from you that wasn't listed above.

If you have any other questions about documentation that would be needed for a loan, give us a call at 804-968-5000. CapCenter has a client relations team made up of licensed loan officers that are ready to help get you answers to any questions you may have.

 

 
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