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Application Checklist

Kirk Evans  3-MINUTE READ  April 07, 2023


If you're planning to apply for a mortgage, it's important to make sure you have all the necessary documents ready. While the list below covers most of the required documents, keep in mind that additional information may be needed based on your unique circumstances. It's important to be cooperative and provide any requested information as soon as possible to speed up the application process.

Here is a checklist of documents and information you will need to provide when applying for a mortgage:

Your Property:

  • Copy of signed sales contract with all riders
  • Verification of deposit placed on the home
  • Names, addresses, and telephone numbers of all realtors, builders, insurance agents, and attorneys involved
  • Copy of listing sheet and legal description (if available). If the property is a condominium, please provide the condominium declaration, by-laws, and most recent budget.

Your Income:

  • Copies of pay stubs for the most recent 30-day period and year-to-date
  • Copies of W-2 forms for the past two years
  • Names and addresses of all employers for the last two years
  • Letter explaining any gaps in employment in the past two years
  • Work visa or green card (copy front & back)
  • If you're self-employed, receive commission or bonus, interest/dividends, or rental income, provide full tax returns for the last two years PLUS year-to-date Profit and Loss statement. Please provide complete tax return including attached schedules and statements. If you have filed an extension, please supply a copy of the extension.
  • K-1's for all partnerships and S-Corporations for the last two years. Please double-check your return. Most K-1's are not attached to the 1040.
  • Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) including all schedules, statements, and addenda for the last two years (Required only if your ownership position is 25% or greater).
  • If you will use Alimony or Child Support to qualify, provide divorce decree/court order stating the amount, as well as proof of receipt of funds for the last year.
  • If you receive Social Security income, Disability, or VA benefits, provide an award letter from agency or organization.

Source of Funds and Down Payment:

  • Sale of your existing home - provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/Closing Statement)
  • Savings, checking, or money market funds - provide copies of bank statements for the last 3 months
  • Stocks and bonds - provide copies of your statement from your broker or copies of certificates
  • Gifts - If part of your cash to close, provide Gift Affidavit and proof of receipt of funds

Debt or Obligations:

  • Prepare a list of all names, addresses, account numbers, balances, and monthly payments for all current debts with copies of the last three monthly statements
  • Include all names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years
  • If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

 As a final note, based on the information in your application and/or credit report, you may be required to submit additional documentation. At First Priority Capital, we are committed to providing you with personalized service and support throughout the mortgage process. Contact us today to get started!

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