"What Do I Need for a Mortgage?"

Posted by Help Now on Thursday, May 16th, 2013 at 5:30am.

I get asked this question a lot. "What do I need to get a mortgage?" To help others who may be wondering the same thing, I've compiled this list of items you need to get a mortgage. It is important to gather this paperwork before you being looking at homes. I've seen hopeful buyers miss the house of their dreams because they weren't prepared. It takes time to gather your paperwork and get qualified. If you find the home you want first, it may be gone by the time you get everything you need for the mortgage. In today's market homes can sell quick, and those who are prepared and pre-qualified are able to act fast.

What do you Need for a Mortgage?

W-2 Forms for the past 2-3 years for every person signing on the loan (if you are self employed use business tax return forms)

Pay Stub for each person signing the loan

Account numbers of all credit cards and the amount of any outstanding balance

2-4 Months of Bank Statements for both checking and savings accounts

Lender, loan number, and amount owed on Other loans (such as student, car, business, etc.)

Addresses for where you've lived for the last 5-7 years (include names of landlords if appropriate).

Personal Tax Forms for the last 2-3 years

Major Assets of value (such as boat, RV, stocks, bonds, etc.)

Retirement account statement (e.g. 401k, IRA, etc.)

Additional Income documentation: something to verify other income such as child support or a pension. Brokerage account statements for 2-4 months  

Always speak with your financial adviser when making large financial decisions. Also use a trustworthy and reputable Loan Officer. As Neighborhood Experts we encounter many loan officers and can help you find the best one for you.

About the Author:

Utah Dave - Neighborhood ExpertUtah Dave - Daybreak Neighboorhood Expert and Local Resident

My friends nicknamed me Utah Dave in high school because they said it didn't matter where we went in Utah, I would know how to get there and who we needed to talk to. The name sticks today as UtahDave has formed into a professional real estate network of Neighborhood Experts all across the state. I live in Daybreak with my wife and 4 amazing children. I enjoy dancing (which is how I met my wife Dawn) as well as traveling, coaching, and learning.

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