Mortgage Application Checklist
Core Mortgage Financial has developed a checklist for borrowers to use when applying for mortgage home loan. The mortgage application checklist will assist the borrower when looking for the necessary documentation in order to complete your mortgage application.
LOAN DOCUMENTS REQUIRED TO COMPLETE LOAN TRANSACTION
Verification of income:
Salary income
____ Your last 2 original one full month pay stubs from your employer.
____ Original W2s for the past 2 years
Commission income
____ Signed tax returns/1099 for the past 2 years with Schedule A attached
_____ Sole proprietorship income will come from 1040 personal returns
____ Signed tax returns for the past 2 years business ( if applicable)
If Rental income is claimed:
____ tax returns for the past 2 years with Schedule E attached
____ Mortgage statement on each rent house you own
____ Schedule of real estate owned (pg. 3 of loan application)
____ Original, current, signed rent agreements for recently purchased rent houses
Retirement income
____ Awards letter from Pension Verification Office
____ Can substitute original W2s, signed tax returns or original bank statements
Social Security income
____ Social Security awards letter or last 2 original bank statements showing direct deposits
Child support income (not required unless you choose include it in your income)
____ Fully executed divorce decree ( if alimony is used for qualification)
____ Original printout from the Attorney General or last 12 orig. bank statements
Verification of Assets:
____ Original bank statements for the last 2 months.
____ One quarter statement for IRA’s stocks, bonds
____ Verification of deposit filled out in leiu of bank statements
____ Earnest Money Contract + cancelled check for deposit for purchases. ( purchase transaction)
ITEMS NEEDED PRIOR TO CLOSING FOR REFINANCES:
____ Copy of your deed (if refinance)
____ Original old survey (if refinance)
____ Copy of Mortgage Statement being paid off ( if refinance)
____ Homeowner’s insurance policy (if refinance)
Identification:
____ legible copy of drivers license
____ Social Security card of SS9 form filled out so lender can verify your SS number
Mortgage Application checklist can be less depending on your loan situation. Please call Core Mortgage Financial for the exact list.
