Applying For A Mortgage Checklist

Applying for a mortgage can be a very nerve racking experience, especially these days after the sub prime meltdown. However, making sure you have the documents you need when visiting your local bank, or mortgage broker to apply for a loan can make the process seem less daunting.

Take a look at the check list below of documents necessary when applying for a loan.

W-2 forms — or business tax return forms if you're self-employed — for the last two or three years for every person signing the loan.
Copies of at least one pay stub for each person signing the loan.
Account numbers of all your credit cards and the amounts for any outstanding balances.
Copies of two to four months of bank or credit union statements for both checking and savings accounts.
Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
Addresses where you've lived for the last five to seven years, with names of landlords if appropriate.
Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
Copies of your most recent 401(k) or other retirement account statement.
Documentation to verify additional income, such as child support or a pension.
Copies of personal tax forms for the last two to three years.