Borrower Mortgage Checklist

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Applying for a mortgage isn’t exactly a simple process, but it doesn’t have to be a headache if you take steps to stay organized and be proactive about preparing your documents and financial information.

If you are applying for a fully documented mortgage loan, you can use the following checklist to help you get a head start on the process.

Here is a partial list of what lenders may need to process your home loan:

  • Completed Uniform Residential Loan Application. You can likely get this done over the telephone or by mail.
  • Copy of your most recent pay stubs showing past 30 days worth of pay.
  • If you are self-employed or a commissioned employee lenders will want to see the last one to two years of your tax returns – ask your mortgage professional for details.
  • If you have ownership interest in a corporation or partnership exceeding 25%, a lender may require your business tax returns for the past two years – including a profit and loss statement and a corporate balance sheet.
  • One to two months of bank statements. Make sure to include ALL PAGES – even the ones that say “this page is intentionally left blank.”
  • Banking account and retirement account statements – if being used to qualify. Again, present ALL PAGES – even the ones that say “this page is intentionally left blank.”
  • Copy of the Purchase and Sales Contract – if you are conducting a purchase transaction. The contract must be signed by all parties.
  • The contact information for your insurance company and your settlement agent (attorney or title company).
  • If you are part of a homeowners association (HOA), the lender may need the contact information of the person in charge. They may require that you have a condo questionnaire completed so that they can verify that there is liability coverage in place over the common areas.
  • Mortgage application with keys resting on top.A current mortgage statement is helpful for refinance transactions.
  • If you want to subordinate your current second mortgage, the lender may need a copy of the note for the second loan. You will also likely need to ask your current lender to send a copy of their subordination requirements.

Please keep in mind that the list of required documentation may be slightly different from lender to lender. The best way to stay on top of things and get your loan processed sooner, is to stay in regular communication with your loan officer. Don’t hesitate to ask your lender if there is anything you could be doing to speed up the process. He or she may offer other suggestions, such as scanning your documents electronically.

Anna Platz is an Editor at, a leading mortgage rate research website, as well as the Lead Contributor to, a blog about budgeting and personal finance. Anna is immersed in the world of real estate, mortgage, and home financing and is here to provide valuable resources for homeowners and soon-to-be-homeowners on buying and selling real estate, researching a mortgage broker or lender, and securing a home loan. Check back often for news, updates, and remember that you can find today's current mortgage rates at My Google Profile+

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