Mortgage Document Checklist

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The Checklist

In order to help you prepare for getting mortgage financing we have assembled a list of items below that you can expect to provide in order to be considered for loan approval. It is very important that lenders today are provided supporting documentation to verify what is outlined on the application (Form 1003) you complete with your loan specialist at the beginning of the process. Review the following checklist to see what items apply and you can begin to take some of the mystery out of the process and start gathering the necessary information.

If, while reviewing the list, you see any potential problems or issues with what might be requested, please contact one of our representatives to assist you with the problem and receive potential solutions.

Additional documentation may be required in case of self employed and commission based compensation.

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Income Verification

If salary employee:

  • Names and addresses of all employers for the past 2 years
  • W-2s for all employers for the past 2 years for salaried borrowers
  • Pay stubs covering the past 30 days
  • Past two years tax returns if your income is commission

If self-employed: signed tax returns for the past 2 years and year-to-date profit loss and balance sheet signed by accountant and borrower. If Retired:

  • Social security and disability payments – Copy of award letter with most recent check stub or bank statement (if deposited electronically)
  • Pension income – Copy of check and forms showing duration of payments
  • Dividends – Brokerage statements for the past 2 years or past 2 years tax returns
  • Child Support/Maintenance – Proof of receipt and divorce decree
  • Rental Income – Can only be counted if it is shown on the previous 2 years tax returns

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Asset Verification

You will be required to verify sufficient funds needed for: down payment, closing fees, pre-paid, required reserves

  • Two previous months bank statements (checking and/or savings). Name of institution, account holder and account number must all be on the statement. All pages of the statement must be included!
  • Other asset statements (401k, brokerage, mutual funds) must include the most recent statement. All pages of the statement must be included!

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Miscellaneous Verification

  • Copy of driver's license (resident aliens provide evidence of permanent residency issued by INS)
  • Copy of homeowner's insurance declarations page
  • Copy of most recent mortgage statement
  • Copy of mortgage note for second mortgage being subordinated - if any
  • For cash out transactions provide, a signed note explaining the purpose of cash being taken out

For Purchase transaction only:

  • Fully executed purchase agreement, including any addendums for home being purchased
  • For contingency of selling current residence, include the fully executed contract of sale with all addendums
  • Copy of earnest money checks

Additional documentation is required if your personal finances/history including having property or assets associated with a trust, divorce, other income sources, outstanding or previous judgments, other properties, a bankruptcy, other liens against the subject property, etc.

  • If full time student within the past 2 years, provide copy of diploma or transcripts
  • Gift letter, if you are receiving a monetary gift from a relative
  • If other properties owned - provide copy of rental agreements (if applicable), most recent mortgage statement, proof of insurance and most recent property tax receipt
  • Copy of Living trust (If applicable)

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Customer Reviews

  • I just refinanced in October with a different company and it took 2 months to do and was a pain. I had to think long and hard about refinancing again. I was highly impressed with Vibhu Grover. He was very attentive. He would answer questions when I emailed him at 2am. A couple minutes later, I would have an answer. He puts his customers first. I was highly impressed and would use Vibhu Grover again. I was very pleased and have recommended him to others already!

    — Terri | St. Peters, Missouri
  • Received a great rate on a 15 year fixed with the best closing costs I could find. Closing was quick and painless. Thanks!

    — Andi | St. Charles, Missouri
  • Always responded promptly when I had questions and kept me up to date on everything that was happening throughout the purchase transaction. Vibhu was at closing and made me feel at ease. He made sure that all my questions were answered. US Wide Financial is a great company. They care about the people and believe in the business. That's hard to find these days. Thanks for everything.

    — Diana | Chesterfield, Missouri
  • I just wanted to thank you again for all your help with my refinance. It was the smoothest loan process I have ever experienced and think you and your company will do awesome if everyone handles the process like you did.

    — Patti | Kansas City, Missouri
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