Mortgage Application Documents Checklist: Get Your Loan Application Approved Easily

When it comes to applying for a home loan and getting your application approved, there are several documents that your lender needs to look at first. That’s why it’s so important for you to be fully prepared with all the paperwork needed when you apply for a mortgage to buy a home. 

Speak With a Mortgage Lender Before House Hunting

Your mortgage application documents checklist will help you identify exactly what you need to show your mortgage lender in order to increase your odds of mortgage approval. In fact, the first thing you should do before you even start the house hunting process is speak with a mortgage specialist in order to get pre-approved for a home loan. 

Pre-approval will be beneficial in a few ways. For starters, it will tell you how much you can afford to spend on a home purchase. That way you can spend your time wisely when looking at homes.

Further, pre-approval will show sellers that you are both serious and qualified to buy a home. In turn, they’ll feel more confident dealing with you and may look upon your offer with more favor. 

Lastly, pre-approval will help speed up final mortgage approval when you finally find the home you want to buy. You’ll already have submitted all the necessary paperwork to the lender after following your mortgage application documents checklist. All you’ll need to do is supply the accepted real estate contract to get the final mortgage approval process going. 

Let’s check out what documents you need when applying for a mortgage.

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Helpful Tips to Ensure a Smooth Loan Process

Before we get into all the documents that you’ll need when you apply for a home loan, here are some tips to help make sure that the loan process is a smooth and streamlined one:

• All documents can be uploaded through our Secure Inbox
• Send copies or PDF’s of actual statements and documents rather than screen shots, overview, or photos.
• Numbered pages require ALL numbered pages on statements, even if blank.
• Tax returns require all federal schedules and please sign and date page 2 of your 1040s if not already.
• Uploading all at once is much easier to execute the process.

Your Mortgage Application Documents Checklist

When you apply for a home loan and get pre-approved, you’ll need to supply your lender with the following documents:

• Complete loan application
• Last 2 years W2’’s for all borrowers
• Last 2 years 1040 federal tax returns (all schedules)
• Most recent pay-stubs covering 30 days, all borrowers
• 2 months most recent personal bank statements, all pages (please no screen shots)
• Most recent quarterly or monthly asset statement(s) such as 401k, investments, checking/savings, etc. – all pages [if showing on the loan application)

Additional Documents Likely Needed For Full Loan Approval

In addition to the documents listed above, you may also need to supply the following, depending on your situation:

• Homeowner’s insurance dec. page and most recent mortgage statement if applicable.
• Copy of identification for each borrower (driver’s license or passport, etc.)
• If applicable: Retirement/Pension/SS income: Last 2 years 1099s. Award letter for current year SS income and/or continuance letter for pension/retirement confirming terms and timelines of future wages.
• lf applicable: Rental properties: Address, value, loan balance, payment break-down and if taxes/insurance included. Please send most recent mortgage, property tax, insurance, and HOA statement as applicable for each property.
• Debit/Credit card information for ordering appraisal (collected during the loan process after we have sent you loan disclosures)

If Self-Employed — Please Add:

• Last 2 years corporate tax returns, all schedules (if applicable)
• Last 2 years 1099’s (if applicable)
• Last 2 years K-1’s (if applicable)

For VA Financing:

• Copy of your DD214 if separated from the military (see below for instructions to request if you do not have a copy)
• Completed Request for COE form 26-1880
• Statement of service from your commanding officer if you are active duty
• Your Certificate of Eligibility (COE). Your Loan Consultant can help you get this.

Requesting Your DD-214

Digital Express

If you need your DD-214 quickly, you should request the services of a DD-214 express service. There are numerous services found online, and there is a usually a fee associated. But if you need your DD Form 214 in a hurry, expedited service is a great option.

Request your DD-214 online

If you don’t need your DD-214 right away, you can request it online directly from the National Personnel Records Center [NPRC). This option allows you to complete the necessary information online througheVetRecs, NPRC’s online request system.

Request the DD-214 by fax

You can also request DD-214 duplicate copies directly from the National Personnel Records Center by faxing a completed and signed SF-180 form to fax number 314-801-9195.

Mail in your request

Mail a written request for your DD214 to:

National Personnel Records Center
Military Personnel Records
1 Archives Drive
St. Louis, MO 63138

If you need help applying and getting approved for a mortgage, be sure to team up with the professionals in mortgages today.

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Have Questions About Home Loans in WA, OR, CO, or ID?

Sammamish Mortgage is a local mortgage loan company that has been serving clients since 1992. We help borrowers all across the Pacific Northwest, including Washington, Oregon, Idaho, and Colorado. We are proud to offer a wide variety of mortgage programs and products with flexible qualification criteria. Please contact us if you have any questions or are ready to apply for a home loan.