What you need to get ready before applying for a mortgage loan – Gateway Financial Group

Loan Application Checklist

In general, the documentation you will need includes:

Property Information (if you already have a contract on a house)

Purchase Agreement.

If you are selling your current home, copy of listing contract.

If you've sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.

Most recent 1 year W-2

Most recent statement for each bank, mutual fund, and/or investment account.

If self-employed:

	Most recent year's tax returns (with schedules).
	Year-to-Date Profit and Loss Statement.

If you own rental property:

Most recent year's tax returns and current rental agreements.

If you are retired:

Pension Award Letter.

If you receive Social Security:

Social Security Award Letter.

If you are counting child support as income:

	Copy of divorce settlement.
	Copy of three months of cancelled child support checks.

Housing Obligations

Copy of mortgage coupon for all current loans.

Copy of home-owners insurance declaration page.

Miscellaneous

Photo ID and proof of Social Security number.

Residence addresses for the past two years.

If applicable, a copy of your divorce decree.

If you are not a citizen, a copy of the front and back of your green card.

GATEWAY FINANCIAL GROUP

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