When applying for a mortgage, you will be required to produce a number of important documents verifying your identity, income, credit history and more.
The following documents are commonly required during the loan process. We urge you to begin collecting these documents before you apply to ensure your loan is processed in a timely manner.
- Most recent copies of pay stubs for the last 30 consecutive days
Your lender needs to know the amount of money you’re bringing in from work on a regular basis. Make sure these pay stubs are from the last 30 consecutive days.
- Bank statements for all checking and savings accounts for the last 60 days
You’ll also need current financial statements from the past two months. This includes checking and savings accounts.
- Copy of W-2 Statements for past two years
Your W-2 provides verification of your job title and current income.
- Copy of complete Personal Tax Returns for past two years
You’ll need to provide full state and federal tax returns from the past two years too. These are needed to confirm that your household income has remained stable.
- Complete copy of personal and business tax returns for past two years if either borrower is self-employed
If you’re an independent contractor you’ll need to provide copies of your business tax records as well as your personal tax records.
- Statement from retirement accounts such as 401(k), IRA, etc. covering last 60 days
You’ll need a statement spanning the past 60 days from all retirement accounts.
- Statements for last 60 days from any stocks, bonds or mutual funds you wish to disclose for purposes of mortgage loan approval
These can be obtained from your bank(s) and financial institutions, or online if you have online banking. Lenders need a complete picture of your financial situation, which includes investment income.
- Copy of the divorce decree or marital separation agreement, if applicable
If you’ve been separated or divorced you’ll need a copy of the agreement/decree.
- Clear copy of borrower(s) driver’s license
Anyone whose name will appear on the loan must provide a valid, unexpired, government-issued photo ID to verify their identity.
- Clear copy of borrower(s) Social Security card
Anyone whose name will appear on the loan must also present their Social Security card.
Having these items on hand during your free pre-qualification and consultation with one of our mortgage professionals will help speed up the application process. After you speak with us, you should have a general idea of the size and type of loan you may qualify for.
In accordance with federal regulations, consumers are not required to provide verifying documentation until after they submit an application, receive a Loan Estimate, and state an intent to proceed with the transaction. A pre-qualification is not an application for credit. Pre-qualification is a service offered by Waterstone Mortgage to consumers who are interested in pre-qualifying for a mortgage loan before they submit an application. If you wish to receive a Loan Estimate, you must submit an application for credit. Subject to credit approval and program guidelines.