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Loan Checklist.

Handy borrower checklist to help you stay on track.

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Your Mortgage Checklist, Simplified.

Knowing what to prepare ahead of time can make the loan process faster, smoother, and less stressful.

One of the most common causes of delays in the mortgage process is missing or incomplete documentation. This checklist helps you stay organized and prepared so your loan can move forward without unnecessary setbacks.

Checklist

Identity Verification.

  • Full legal name, Social Security number and birthdate for all borrowers on application
  • Phone number, email address, and current and former residential mailing addresses over the last two years
  • Driver's License or Government-issued photo ID for all borrowers on application
  • Name, addresses, and phone numbers of all employers over the last two years

 

 

 

Income Verification.

  • Primary and secondary income amounts and sources
  • Name, addresses, and phone numbers of all employers over the last two years
  • Pay stubs covering the last 30 days
  • Written explanation if employed less than two years or employment gap exists within the last 2 years

 

 

 

Income Verification (Self-Employed) .

  • Federal tax returns, personal and business, including all Schedules, K1's, etc., for the past 2 years
  • Profit and loss statement - year-to-date

 

 

 

Purchase Property Information.

  • Copy of Signed Purchase Agreement - All pages and all counteroffers
  • Closing Agent contact information
  • Copy of Deposit Receipt
  • Contact info for Listing and Selling Agent
  • Address of property being purchased, year built, estimated down-payment amount and purchase price
  • Estimates of annual property taxes, homeowners insurance and any homeowner association dues

 

 

 

Asset & Bank Documents.

  • Values of bank, retirement (401k, IRA), investment (Stocks, CDs), and other asset accounts
  • Monthly debt obligations
  • Last 2 months' statements for all accounts listed on the application (include all pages of the statement, including ones that are blank)
  • Explanation and documentation for any large or unsual non-payroll deposits or withdrawals

 

 

 

Tax Documents.

  • IRS Form 4506-T - Request for tax transcript, completed, signed and dated
  • W-2s for the past two years
  • Federal tax returns (1040s) for the past two years (all pages are needed)

 

 

 

Mortgage Verification/ Homeowner's Insurance.

  • Mortgage Statement(s) for all existing mortgages for Primary Residence
  • Homeowner's Insurance Declaration page
  • Homeowners Association Statement (if applicable)

 

 

 

Credit Verification.

  • Credit explanation letter for late payments, collections, judgments, or other derogatory items in credit history
  • Bankruptcy/discharge papers for any bankruptcies in credit history

 

 

 

Social Security, Disability Or Pension.

  • Social Security Award Letters
  • SSA-1099 for the past two years-all borrowers on application
  • Pension Award Letters

 

 

 

If You Own Rental Properties.

  • Signed rental agreement(s) - all properties
  • Mortgage Statement(s) - all properties
  • Homeowners Insurance - all properties
  • Tax Bills - all properties

 

 

 

Miscellaneous.

  • Divorce Decree
  • Separation Agreement
  • Proof account paid
  • DD-214-VA loans only
  • Certificate of Eligibility- VA loans only

 

 

 

Success, Measured in Happy Homeowners.

Your Experience Is the Benchmark.
At Team Molina, we are driven by the passion to serve our community. We're not your average Mortgage Lender - and from first call to closing day, your satisfaction is how we measure success.

Got Questions?
Ask us Anything.

Jose Molina
Sr. Loan Officer
NMLS# 240269
209-609-0212
jose@team-molina.com
eFax: 209-444-0101

Apply Now Contact Us