What documents are required for a mortgage?

Learn about the documents you'll need when you apply

Many times, when you complete an application to buy or refinance a home, we will ask you to provide current documents that show your income, assets, debts, credit history, and finances.

We use these documents to verify that the information on your mortgage application is accurate. Your application isn't typically considered complete until we receive all the necessary documents and information necessary to evaluate your application and make a credit decision.

Having your mortgage documents ready and submitting them to us promptly can help us review your application more quickly. These are the documents you may need:

Income and employment documents

When you apply for a mortgage, we may request documents related to your employment and income. These documents include:

• W2 forms and pay stubs. We may ask for your W2 forms for the past two years, as well as a few recent pay stubs.
• Personal income tax returns. We often ask for copies of your two most recent tax returns, especially if you're self-employed.
• Other sources of income. If you receive income from investments, rental properties, pensions, Social Security, or other sources, we'll ask for documentation about this income, too.
• Self-employment documents. When you are self-employed, you'll need to provide business tax returns, proof of business income, and proof of business activity. Learn more about getting a mortgage when you're self-employed.

Debt and asset documents

We also typically ask for documents that show your assets and other debt payments you may need to pay in addition to your mortgage. Information about your debts helps us calculate an accurate debt-to-income ratio.

• Assets. We may ask for statements from your bank, investment, and retirement accounts.
• Gift Letters. If you are financing your home with money that has been given to you as a gift, you'll need to document this with a gift letter that states who is giving you the money and confirms that this money is a gift you do not need to pay back. Learn more about mortgage gift letters.
• Debt documents. We'll ask you to document how much you might owe on credit cards, student and auto loans, personal loans, and other kinds of debt.

Credit history documents

We'll want to see your credit score and credit reports from credit reporting agencies. You won't need to provide these documents. Instead, we'll ask your permission to request this information by accessing your credit report.

Identification documents

At the time of closing you will need to provide the settlement agent with a valid, government-issued identification, such as a driver's license, passport, and/or Social Security card. It's important that the name on your ID matches the name on your mortgage documents, so make sure you check your name on the mortgage application, versus your identification before you apply.

Are mortgage documents needed for streamline refinancing?

When you have a VA or an FHA loan, you are often eligible for a streamline refinancing program. Streamline refinances allow you to lower your rate with less paperwork, compared to Conventional refinances, which frequently require you to submit the documents discussed above. Learn more about FHA streamline and VA streamline refinances.

What mortgage documents will you send me?

Shortly after our loan advisors take your application over the phone, we will send you the initial disclosure package to review and complete. You will also receive a Closing Disclosure prior to closing. Some of the most important documents are your initial and final disclosures, which contain key information about the mortgage we may offer you.

If you're interested, you can also learn more about our mortgage application process. Best of luck with your mortgage application with Freedom Mortgage!