What To Bring When Applying For A Mortgage?

Mortgage Checklist

Buying a new home is an exciting time but also a very big decision. To make sure everything goes smoothly; once pre approved for your mortgage, you begin your home search while at the same time gathering the paperwork for your lender.

Here is a mortgage application checklist that will help you when working with your mortgage professional.

Your application with this list should make things go easier and quicker. I will also be happy to provide you a few mortgage banker’s contact information if you need it.

In addition to your residence history Ā and employment history during the past two years, these are the items to bring with you for a loan application:

  • Purchase contract
  • Last 2 years of W-2’s & tax returns
  • Business tax returns and certified P&L (if applicable)
  • Most recent pay stubs – 1 month
  • Last 3 months bank statements
  • Debt information; loan payments info (car, boat, etc.)
  • Last 12 months of cancelled checks for rent or mortgage payments
  • Most recent credit card statements
  • Divorce decree (if applicable)
  • Alimony of child support evidance (if applicable)
  • Application fee
  • Driver’s License & Social Security Card
  • Personal property information

Interest rates will fluctuate from the application day, until the day you close. Consider locking in your rate when applying for a mortgage.

Discuss with your lender about the choices that suit you.

After your pre approval, avoid these actions:

  • Avoid new debt: making new purchases that can change your debt to income ratio.
  • Opening a new line of credit might lower your credit score.
  • Closing your credit cards/accounts can harm your credit score that helped you establish your credit history.
  • Do not change jobs during the application. It might delay your process for 30 days.

Real Estate tips on Homes By Haris

If you are looking to buy or sell a home, or purchase new construction in Chicago North Shore and Northwest Suburbs, contact me today 847-878-2588 ! I am here to help with any real estate needs you have.
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