Loan Applications: What You Need

Real Estate

Looking for a house or condo to buy can be overwhelming, especially if you are getting a mortgage.  My clients often ask “what documents do I need to apply for a mortgage?”.... Well, a lot of documents….


I’ve put together a general list of things that you will need to give to your lender (please note not all will apply, this is a general list).


Loan Applications: What You Need

1) 3 months’ bank statements on all accounts, including 401k

2) Copy of HUD1 Settlement Statement on recent sales of homes

3) Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt

4) Landlord’s name, address, and phone number

5) Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens

6) Copy of bankruptcy papers filed within the last seven years

7) Copy of Social Security Card and driver’s license

8) Last two years’ W2 forms

9) Most recent pay stubs covering a 30 day period

10) Federal tax returns (1040’s) for the last two years, if:

you are self-employed; earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own rental property; or you take non-reimbursed business expenses.

11) Year-to-Date Profit and Loss Statement (for self employed)

12) Corporate or Partnership tax returns (if you own more than 25% of a business)

13) Copy of purchase agreement (if you have already made an offer)

14) Receipt for child support payments

15) Copy of Divorce Settlement (if applicable)

For more information on buying or selling a home, please contact Diane B Kaplan, Broker Associate Weichert Realtors, at 732-672-0409 (call or text).