Buying a Home Checklist | Accurate Mortgage

Buying a Home Checklist

This is a list of documents frequently required for processing a home loan. Your mortgage loan originator can confirm the documentation you’ll need after receiving your completed loan application.

Employment/Income Information

  • Pay stub(s) from the most recent 30 days
  • Tax returns and W-2s (all pages and schedules) from the last two years
  • If self-employed, federal business tax returns (all pages and schedules) from the last two years, and corporate K-1s
  • Fixed income (Social Security/retirement/pension) – most recent award letters and 1099s, if applicable
  • If any rental income is received, copy of current lease agreement and mortgage statement
  • If VA and active-duty personnel, copy of Statement of Service and Off Base Housing Authority letters

Asset Information

  • Mortgage statement (if you currently own a home) from the most recent month
  • Declarations page from your homeowners’ insurance policy (if you currently own a home)
  • Full bank and/or asset statements for checking, savings, stocks, IRA, 401(k), etc. from the most recent two months
    • Must be ALL PAGES, even if the page is blank.
    • CANNOT be internet web page summaries.
    • MUST be an actual statement with name and account number on it.
  • If funds to close will come from a gift, provide a gift letter (consult your loan originator) and the following:
    • From the donor – bank statements showing the gift check deposited into your account
    • From the borrower – a copy of the deposit slip showing the gift check deposited into your account
  • If funds to close will come from the sale of a home, copy of HUD-1 from sale of home and deposit slip showing proceeds deposited into bank account

Credit

  • Copy of driver’s license
  • Copy of the final divorce decree and family plan
  • Copy of bankruptcy papers, including all schedules and discharge, and credit explanation letter for reason for bankruptcy
  • Letter of explanation on any late payments, collections, charge-offs or derogatory credit
  • Letter of explanation for all recent credit inquiries
  • If VA, Certificate of Eligibility or copy of DD214

Property

  • Homeowners insurance agent’s name, address and phone number for the subject property
  • If retaining your current residence, provide a mortgage statement showing taxes and insurance are included in the monthly payment
  • If currently renting, provide landlord’s name, phone number and address; if renting from private landlord, will need to show 12 months of canceled rent checks; if staying with family, a letter stating you live rent-free required