Personal Information

• Full legal name

• Social Security Number (SSN)

• Date of birth

• Marital status

• Number of dependents

Contact Information

• Home address (past 2 years)

• Phone number

• Email address

Employment Information

• Employer name and address (past 2 years)

• Job title/position

• Duration of employment

• Contact information for your employer

• Pay stubs (last 2 months)

• W-2 forms (last 2 years)

Income Documentation

• Tax returns (last 2 years)

• Proof of additional income (bonuses, overtime, rental income, etc.)

• Social Security, disability, or retirement income documentation

• Child support or alimony income (if applicable)

Asset Information

• Bank statements (last 2-3 months for all accounts)

• Retirement account statements (401(k), IRA, etc.)

• Investment account statements

• Documentation of any large deposits

Debt Information

• Current mortgage statements (if applicable)

• Lease agreements (if renting)

• Credit card statements

• Loan statements (car loans, student loans, personal loans, etc.)

• Child support or alimony payments (if applicable)

Property Information

• Purchase agreement (if buying a home)

• Property appraisal

• Homeowners insurance information

• Property tax information

• Homeowners Association (HOA) information (if applicable)

Additional Documentation

• Copy of driver’s license or government-issued ID

• Recent utility bills (for address verification)

• Letter of explanation for any credit issues or gaps in employment

• Divorce decree (if applicable)

• Bankruptcy discharge papers (if applicable)

Self-Employed Borrowers

• Profit and loss statement (year-to-date)

• Business tax returns (last 2 years)

• Balance sheet

Miscellaneous

• Gift letter (if receiving a financial gift for the down payment)

• Documentation of any legal settlements or lawsuits

Tips for Preparing Your Application

1. Organize your documents: Ensure all documents are up-to-date and organized.

2. Review your credit report: Check for errors or issues that need resolving.

3. Be honest and thorough: Provide accurate information to avoid delays.

4. Prepare explanations: Be ready to explain any anomalies in your financial history.

Gathering these documents in advance will streamline the mortgage application process and help us process your loan more efficiently.

• Adjustable-Rate Mortgage (ARM): A mortgage where the interest rate can change periodically based on changes in a specified index.

• Amortization: The process of paying off a debt (such as a mortgage) over time through regular payments. These payments typically cover both principal and interest.

• Appraisal: An estimate of the value of the property being purchased. Lenders typically require an appraisal to ensure that the loan amount does not exceed the value of the property.

• Closing Costs: Fees and expenses, beyond the price of the property itself, that buyers and sellers typically incur to complete a real estate transaction. These can include appraisal fees, title insurance, attorney fees, and more.

• Closing Disclosure (CD): A five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

• Debt-to-Income Ratio (DTI): A borrower's total monthly debt payments divided by their gross monthly income. Lenders use DTI to assess a borrower's ability to manage monthly payments and repay debts.

• Down Payment: The initial payment made by the buyer toward the purchase price of the property. It's usually a percentage of the total purchase price.

• Escrow: Money held by a third party on behalf of transacting parties (often the lender) and used to pay property taxes and insurance premiums.

• Fixed-Rate Mortgage: A mortgage with an interest rate that remains constant throughout the term of the loan.

• Homeowners Association (HOA) Fees: Fees paid by homeowners in a planned community or condominium development for maintenance of common areas and amenities.

• Interest: The cost of borrowing money, typically expressed as an annual percentage rate (APR).

• Mortgage: A loan to finance the purchase of real estate, typically with specified repayment terms and interest rates.

• Origination Fee: A fee charged by a lender to cover the administrative costs of processing a loan.

• Points: One-time fees paid to a lender at closing to lower the interest rate on a mortgage. Each point costs 1% of the loan amount.

• Pre-approval: A lender's conditional commitment to lend a specific amount to a borrower, subject to certain conditions and documentation.

• Principal: The amount of money borrowed to buy a home, excluding interest and other fees.

• Private Mortgage Insurance (PMI): Insurance required for conventional loans when the borrower's down payment is less than 20% of the home's value. PMI protects the lender if the borrower defaults on the loan.

• Term: The length of time over which the mortgage loan agreement is in effect. Mortgage terms can vary, commonly 15, 20, or 30 years.

• Title Insurance: Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of a property.

• Underwriting: The process by which a lender evaluates the risk posed by a particular borrower and decides whether to extend a loan