Borrower Checklist: What You’ll Need to Apply for a Home Loan

Being prepared is key to a smooth and efficient home loan process. Gathering the necessary documents ahead of time can help avoid delays and get you to closing faster. Use this checklist as a guide to what most lenders will request when you apply for a mortgage.

Personal Information

• Valid photo identification (driver’s license or passport)
• Social Security number
• Date of birth and marital status

Income Verification

• Most recent pay stubs covering the past 30 days
• W-2 forms from the past two years
• Federal tax returns (1040s) from the past two years (especially for self-employed borrowers)
• Profit and loss statements (for self-employed or business owners)
• Documentation of any additional income (bonus, commission, rental, etc.)

Employment Verification

• Name, address, and phone number of current and previous employers
• Written verification of employment (your lender may request this directly from your employer)

Assets and Bank Statements

• Bank statements for the past two to three months for all checking, savings, and investment accounts
• Documentation of large deposits
• Retirement account statements (401k, IRA, etc.)
• Stocks, bonds, or other investment statements

Credit and Debt Information

• Documentation of any current debts (credit cards, auto loans, student loans, etc.)
• Divorce decree, if applicable, to verify alimony or child support payments
• Bankruptcy or foreclosure papers, if applicable

Property Information (if you’ve already chosen a home)

• Purchase agreement
• Copy of the earnest money deposit check
• Contact information for your real estate agent

Additional Documents (if applicable)

• Gift letter (if you’re receiving gift funds toward your down payment)
• Letter of explanation for any credit issues or unusual deposits
• Rental history (if you’ve been renting prior to homeownership)