Bring what you already have
Documents to gather
Most lenders ask for the same kinds of paperwork. You will not need every line on every loan. Gathering the usual items early is what keeps a file moving. This list follows the one published on the previous Freedom Family Mortgage site.
Usually needed
- Social Security numbers, or individual taxpayer identification numbers, for every borrower
- Home addresses for at least the past two years
- Your most recent pay stubs covering at least 30 days of income
- W-2s for the past two years, or 1099s or K-1s if you are self-employed
- Federal tax returns for the past two years, including all pages and schedules. Self-employed borrowers are often asked for business returns as well as personal returns
- Two to three months of statements for checking, savings, retirement, and credit-card accounts
- Information on other debts such as car loans, leases, and student loans
- A Social Security or pension award letter, if that income will be used
- A year-to-date profit-and-loss statement, and sometimes a balance sheet, if you are self-employed
- A gift letter if a relative or someone else is giving you money for the down payment or closing costs
- Your landlord’s name, address, and phone number if you rent, and sometimes proof of rent or utility payments
Sometimes needed
- A photo ID, such as a driver’s license or passport
- A copy of your Social Security card
- Child-support documentation and the divorce settlement, if you want that support counted as income
- Current statements for any mortgages or home-equity loans on property you already own
- The signed purchase agreement, on a purchase
- Bankruptcy papers if you filed within the last seven years
- A short written explanation of late payments, collections, or recent credit inquiries