Organize Your Documents
The documents required for a mortgage application vary depending on your situation, loan type, and lender some borrowers may be asked to supply additional information. Following are the types of documents you may be asked to provide for yourself and any co-borrowers.
Personal identification documents, such as a government-issued ID and Social Security number, are needed to prove your identity. You may also need current immigration documents, if applicable.
Income and employment documents including paystubs and W-2s provide a snapshot of your current income and the stability of your income over time. You’ll need 30 days of paystubs, two years of W-2s and federal tax returns from the previous two years for all applicants. Self-employed borrowers need two years of personal and business tax returns plus a YTD profit and loss balance sheet.
Asset documents, such as bank statements, investment account statements and retirement plan statements show the assets you have available for immediate financial obligations as well as your overall financial security. You’ll need 60 days of complete bank statements including all pages.
Other documents may be needed depending on your situation. For example, if you receive a down payment gift, you may need a gift letter from the donor. If you’re divorced or separated, you may need to provide a divorce decree or separation agreement. After you sign a purchase agreement to buy a home, you’ll need to provide the signed contract between you and the seller indicating they accepted your purchase offer.
Get Started
Download our Mortgage Application Checklist to get a jump-start on your mortgage application. Getting your documents in order can help you move quickly when you’re ready to buy a home. When you get a mortgage with DCU, we’re here to help you every step of the way.
This article is for informational purposes only. It is not intended to serve as legal, financial, investment or tax advice or indicate that a specific DCU product or service is right for you. For specific advice about your unique circumstances, you may wish to consult a financial professional.
