What will a Mortgage Pro Need From Me?

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  • Your Mortgage Professional will need documentation of a number of things to get you preapproved. Use this guide to gather the required documents.

    What Your Mortgage Professional Needs

    Be sure to provide all pages of statements – even if the last page is blank.  If you can’t find some documents, don’t worry.  Your lender can help you track down copies.

    • Your last 30 days pay stubs. You’ll need to show 30 consecutive days worth to your lender.
    • Last 2 years W-2’s. Your employer gives you this at the beginning of every year for your tax returns.
    • Last 2 years bank statements. This includes all your accounts to show what cash you have on hand.
    • Recent investment & retirement account statements. Any assets you have are beneficial to get your loan approved, even if you won’t be using them to put toward your home purchase.
    • List of recent addresses. Be prepared to provide where you’ve lived and how long you lived there.

    Any new funds in your bank accounts can be a problem.  Ask your lender before making unusual deposits.

    The following items may be needed, so ask your Mortgage Professional before you come in so you’ll be prepared:

    • Your landlord contact info. Most loans don’t require this but its good to have available.
    • Last 2 years tax returns. This is usually only if you’re self employed or paid on commission.
    • Copy of your college transcripts or degree. This is if you’ve recently graduate.
    • Copy of your divorce decree. If applicable.
    • Proof of New Employment. This is you’ve just gotten a new job, for example, a contract.
    • Documentation of any other assets or sources of income.

    Don’t try to hide anything from your lender, everything gets discovered and it’ll just make problems for your loan.

    Thinking of buying a home in the Portland, Oregon area? Checkout our First Time Home Buying Classes!

    What will a Mortgage Pro Need From Me? was last modified: May 1st, 2018 by David Axness

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