1. Mortgage application.
The mortgage application is the document that you fill out to apply for a mortgage loan. It will include your personal information, as well as information about the house you're buying and the loan you're requesting.
2. Proof of income.
Proof of income can be in the form of W-2s, pay stubs, or tax returns. You will need to provide documentation of your income to show that you can afford the monthly mortgage payments.
3. W-2s and tax returns.
W-2s are the forms that employers give employees to report their wages and taxes withheld. Tax returns are the forms filed with the IRS each year reporting your total income, deductions, and taxes paid. You will need to provide copies of both W-2s and tax returns as proof of your income.
4. Bank statements.
Bank statements show your account history and current balance. You will need to provide copies of at least the last three months of bank statements to verify your income and assets.
5. Credit report.
A credit report contains information about your credit history, including any loans or credit cards you have outstanding. You will need to provide a copy of your credit report to show that you're a good credit risk.
6. Property appraisal.
A property appraisal is an estimate of a home's worth, usually conducted by a professional appraiser. You will need to provide a copy of the property appraisal to prove that the home is worth what you're paying for it.
7. Homeowners insurance policy.
Homeowners insurance protects you against damage or loss to your home or belongings. You will need to provide a copy of your homeowner's insurance policy to show that you're insured for the amount of the mortgage loan.
8. An earnest money deposit receipt.
An earnest money deposit is a deposit made when making an offer on a house, typically 1-3% of the purchase price. The earnest money deposit receipt shows that you've made this deposit and indicates how it will be used (e.g., toward closing costs).
9. Closing disclosure form.
The closing disclosure form is a document that details all the costs associated with taking out a mortgage loan. This form is provided by the lender 3 days before closing on the loan and must be signed by both the buyer and seller agreeing to all terms and costs involved in the transaction
10. Lien release documents.
A lien release document is provided by the lender after the mortgage loan is paid in full and releases the lien on the property. This document is important to have if you ever want to sell or refinance the property.