Mortgage Pre Approval Checklist



Here is a checklist of the documentation we will need to process your mortgage application.  After your processor has an opportunity to review these documents, you will be asked for additional supporting documentation.  When the file is submitted to underwriting, the underwriter will typically also request additional documentation.  Having everything on this list ready will get you off to a good start and help the process move more smoothly.
INITIAL DOCUMENTATION- Documentation we need submitted for a complete pre-approval
· Complete loan application
· Government issued photo ID
· Consecutive paycheck stubs for the last 30 days
· Last two years W-2s
· Last two years tax returns, complete with all schedules
· Last two months' (sometimes three months) complete statements with all numbered pages (even blank pages) for all checking, savings, investment and retirement accounts.  Printouts must include your full name, name of the institution and account number.
If Applicable
· If renting: contact information for property management company or 12 months cancelled checks if renting from a private party
· If Self Employed
o Last two years complete business tax returns with all schedules and K-1s
o If school is being used in lieu of employment history (only if currently employed in same field as degree or certificate): diploma showing graduation date
· If taxes have not been filed: proof of extension, previous year's P&L, and YTD P&L
· If legally separated: fully adjudicated legal separation agreement
· If divorced: decrees and associated amendments addressing alimony and child support payments
· If bankruptcy: complete discharge papers with list of creditors
· If VA: DD-214 (retired) or transfer orders (if currently transferring here)
· If using rental income from rental properties: current leases
· If using alternative credit: 12 months cancelled checks or bank statements showing on time payments for each account
SUBSEQUENT DOCUMENTATION- After you are under contract
· Complete purchase agreement, counter-proposals and amendments
· Signed disclosure packet
· Inspection Resolution form (if applicable)
· Copy of earnest money check and proof funds have cleared the bank
· Contact for your home owners insurance company (Check with your current provider and others for a quote)
· Payment information to order appraisal