Information needed for a loan application

Lenders go to great lengths to lessen their risks. Often hard-to-obtain documents are requested at the last minute, sometimes putting the house sale - not to mention the loan commitment- in jeopardy.

To make the process a little easier, I have listed some common documents needed to obtain a mortgage. Having these on hand can speed up your approval.

• Proof Of Identity- driver's license and social security card
• Your Address- for the past 2 years
• Employers- name, addressee and phone numbers for the past 2 years
• Income- gross monthly and yearly income
• Loans & Debts- Loans, including monthly payments, other monthly debt such as credit cards, car payments, child support, student loans
• Bank Statements- from the last 3 months. It is important to the lender to see how you've been moving money around. If you made any big deposits in that period from the sale of stocks or personal possessions, be prepared to provide documentation.
• Documentation Of Funds- have account statements for the last 3 months from any brokerage account, investment account, or whatever you intend on withdrawing money from for your down payment.
• Verification Of Income- last 2 months pay stubs, W-2 forms for the past 2 years and past 2 years tax returns
• Offer Letter- If you are relocating to a new location and job, have a copy of the offer letter, plus a letter saying you've begun working at that location. Your salary needs to be included in the letter.
• Canceled Checks from any previous mortgage or your current landlord. A lender could ask for the past 1 years cancelled checks from your current mortgage or landlord.
• Divorce Decree- if applicable
• If you are veteran- discharge papers or certificate of eligibility- if you are getting a VA Loan.
• Credit Information- review your credit report for any errors.
• Money- for the credit report & appraisal
• Copy Of The Sales Agreement- for the house that you sold.
• Copy Of The Sales Agreement- for the house that you are buying