Checklist: Documents You Need for a Mortgage Application

Applying for a mortgage can feel overwhelming — but being prepared makes the process much smoother and less stressful. One of the most common reasons for delays in mortgage approval is missing or incomplete documentation.

At Rapid Home Loan, we help buyers stay ahead by organizing everything up front. To help you get mortgage-ready, we’ve created this simple, easy-to-follow checklist of the essential documents you’ll need for your mortgage application.

📁 Personal Identification

These documents verify who you are and help the lender comply with legal requirements:

✅ Government-issued photo ID (e.g., driver’s license or passport)
✅ Social Security number or card
✅ Green card or visa (for non-U.S. citizens, if applicable)

💼 Employment & Income Verification

Your lender needs to confirm you have stable income to repay the loan. Be prepared to provide:

✅ Pay stubs for the last 30 days
✅ W-2 forms from the last 2 years
✅ Employment verification letter (some lenders may request this)
✅ Contact information for your employer

If you’re self-employed:

✅ 2 years of personal and business tax returns
✅ Year-to-date profit and loss statement
✅ Business license or proof of ownership

💵 Tax Returns and Financial History

Lenders review your financial history to assess risk and verify your income consistency:

✅ Federal tax returns (1040) for the last 2 years
✅ Signed and dated (include all schedules and pages)
✅ IRS Form 4506-T (authorizes the lender to request your tax transcript)

🏦 Bank Statements and Assets

To verify your down payment and reserves, you’ll need to show current financial assets:

✅ Checking and savings account statements (last 2–3 months)
✅ Retirement accounts (401(k), IRA, etc.)
✅ Investment accounts (stocks, mutual funds, etc.)
✅ Gift letter (if receiving down payment assistance from a friend or family member)

💳 Debts and Obligations

Your lender calculates your debt-to-income ratio, so they need to see your liabilities:

✅ Monthly debt statements (student loans, car loans, credit cards)
✅ Alimony or child support documentation (if applicable)
✅ Any outstanding personal loans

🏠 Property Information (if already under contract)

If you’ve already made an offer on a home, you’ll need:

✅ Signed purchase agreement
✅ Contact information for your real estate agent
✅ Copy of the listing (MLS sheet or flyer)
✅ Details about the property (address, price, HOA fees, etc.)

🔐 Other Potential Documents

Depending on your situation, your lender might also ask for:

✅ Bankruptcy/discharge papers (if applicable)
✅ Divorce decree (if using or disclosing alimony/child support)
✅ Rental history or landlord contact info (especially for first-time buyers)
✅ Explanation letters (for credit issues, large deposits, or gaps in employment)

✅ Pro Tip from Rapid Home Loan: Stay Organized

Create a secure digital folder with all your documents in PDF format. Keep them clearly labeled and accessible so you can easily update or resend them if needed.