When it comes time to get a home loan to finance the purchase of your house, you need to make sure that you are ready to fill out the mortgage application. There are things that you need to do before you fill out your mortgage application, in terms of what you think you can afford, and other decisions about the mechanics of your home mortgage. But there’s more. You will need a great deal of documentation and paperwork when it comes time to fill out your mortgage application. So here is a mortgage application checklist of what you need. Keep in mind that if you have a spouse, you need the personal information documentation for both of you.

*Address of home, and description (new constuction, land survey, plans and specs)
*Signed copy of the sales agreement
*Information on current landlord or on your mortgage holder
*Current expenses related to housing
*Address of every place you have lived in the last 7 years
*Information (in detail) on the last two years of employment (including explanation of any gaps)
*Recent paystubs (last 30 days), two years of W-2 forms and income tax returns
*Information on all bank accounts (bank statements from past three months)
*Funding source for down payment
*Value of all investments and life insurance, as well as real estate you might own
*Detailed information on your cars (current value, and how much you owe)
*Complete debt information (credit card statements, bills and loan statements)
*Details of credit problems, including written explanation of any bankruptcy in the past 7 years

Tags: home loan, home mortgage, mortgage application, mortgage application checklist,
paperwork mortgage application, finance house