Gathering Mortgage Documents
By B. Conrad
Photo: © Darren Baker/ Dreamstime
 It is a good idea for anyone considering the purchase of a home to gather the documents they may need and keep them in a safe place. In some cases the documents needed may already be available as part of your tax preparation paperwork, but in other cases it is necessary to gather additional information not included on the tax return.
The documents lenders will most likely ask to see are:
• W2 forms for the past two years.
• Federal income tax returns for the past two years.
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• At least one recent pay stub. This pay stub should show your name, your Social Security number, your year to date earnings and the name and address of your employer.
• If you are claiming income from a second job or self-employment on the mortgage application, be sure to provide proof of this secondary income with W2 forms, pay stubs, bank records and business tax returns.
• Documentation of other sources of income, including VA benefits, income from retirement funds and pensions, commissions and bonuses, interest, dividends and Social Security benefits should also be provided if that income will be used to justify the mortgage loan. Any income derived from alimony or child support will need to be documented as well.
• Investment records, including mutual fund statements, stock certificates and other proof of invested assets.
• If you have already found the perfect home, the lender will need to see the sales contract, including the purchase price.
• The lender will also need to see a list of any creditors, including credit card issuers, student loan issuers, car loan issuers and the like.
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