Pay stubs and W-2s
Recent pay stubs and your W-2 forms. If much of your pay is commission, overtime or bonus, your tax returns may also be asked for.
Paperwork
Mortgage documents checklist: what to gather before you apply
The papers lenders ask for, grouped so you can work down the list: who you are, your income, your savings and debts, and the home, plus what changes for alternative documentation and rental investors. Your loan officer tells you exactly what your loan needs; some programs ask for more.
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- For everyone
- Income
- Savings and debts
- The property
- Alternative documentation
- Rental investors
- The checklist on one page
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In short
What documents do you need for a mortgage?
Almost every mortgage application needs the same five groups of papers: proof of who you are, proof of your income, statements for the money you are using, details of your debts, and papers about the home. What goes inside each group depends on how you earn. An employee usually sends pay stubs and W-2 forms. A self-employed borrower usually sends tax returns or, on an alternative documentation loan, bank statements, 1099 forms, a profit and loss statement or asset statements instead. A rental investor on a DSCR loan sends no income documents at all, because the property’s rent takes their place.
Use the lists below to get ready, then let your loan officer confirm them. After you apply, the automated underwriting findings list the documents your loan needs, so the final list is set by your own file, not by a general checklist.
How to send them
- Every page of every statement, as your bank issues them, even the pages that look blank.
- Clear copies, not originals. Keep your originals safe.
- Your most recent statements and pay stubs. Documents can go out of date during a long search, so expect to send fresh ones before closing.
- Names that match. The name on each account should match the name on your application; if it does not, say why.
- A short note for any large or unusual deposit, saying where the money came from.
Start here
For everyone
Lenders use automated underwriting systems that often need fewer documents than in the past, but they still verify what you tell them.
- Photo identification for every borrower
- Your Social Security number and, if you are not a U.S. citizen, proof of your residency status or visa
- Your addresses and employers for the last couple of years
- Copies, not originals. Keep your originals safe and send clear copies of every page
- Using a VA loan? Your Certificate of Eligibility. We can usually request it from VA for you; see VA loans
Income
Income documents
Tax returns
Personal and, where you own a business, business tax returns, and often a year-to-date profit and loss statement. Other programs can look at bank statements or assets instead: see alternative documentation loans.
Award letters
Social Security, pension or disability award letters and proof of receipt, such as bank statements. Some income must be shown to continue for a set time.
Leases and tax returns
Your leases and the tax returns that show the rent. Lenders usually work from the rental income on your return and add back paper expenses such as depreciation.
Interest, dividends, support
Statements and tax returns for interest and dividends. Alimony or child support only needs to be shown if you want it counted, with the court order and proof of receipt.
Income must be documented
Lenders count income that can be documented, usually as reported on your tax returns. Income that is legally tax-free can be counted with that in mind.
1099 forms
Your 1099 forms for the years the program uses and proof of your earnings so far this year. On the standard route your tax returns show this income; a 1099 loan can read it from the forms instead.
Each borrower’s own papers
Everyone on the loan sends their own identification and income documents. On many bank statement and 1099 programs, a co-borrower’s wages, documented the usual way, can be added to your income.
Savings and debts
Savings and debts
- Bank and investment statements for checking, savings, brokerage and retirement accounts, every page, to show the money for the down payment, closing costs and savings after closing
- A gift letter if a relative is giving you money, plus proof of the transfer
- Large deposits explained and traced to their source
- Your debts the lender sees most on your credit report; have details of any debt not on it, such as child support
- Money borrowed for closing must usually be secured by something you own and documented; the payment counts as a debt
- Divorce decree or bankruptcy papers if they apply to you
The property
The property
When you buy
The signed purchase contract, the earnest money receipt, and proof of homeowners insurance before closing.
When you refinance
Your current mortgage statement, your homeowners insurance declaration page, and your property tax bill.
If you own other homes
Mortgage statements, insurance and property tax bills for each, and leases if they are rented.
Self-employed and other income
Alternative documentation: what changes
If your tax returns do not show what you really earn, an alternative documentation loan uses other papers to show your income. Your identification, your statements for the down payment, closing costs and savings, and the property papers stay the same. Only the income proof changes.
Proof the business is open
A letter from your CPA or tax preparer, a business license or a filing, and a short description of the business and how many people it employs. The lender confirms the business is still open shortly before closing.
Monthly statements
Consecutive monthly statements, every page, personal or business, for the months your program uses. On business statements, your ownership share and, where the program uses it, a statement of the business’s expense share from your CPA or licensed tax preparer. See bank statement loans.
Your 1099 forms
Your 1099 forms for the years the program uses, proof of your earnings so far this year, and your signed consent for the lender to get the IRS record of your forms.
A signed profit and loss statement
A profit and loss statement for the business, prepared and signed by your CPA or licensed tax professional, and usually a few recent business bank statements. See profit and loss loans.
Account statements
Statements for each account you want counted, bank, brokerage and retirement; the withdrawal terms of any retirement plan you use; and an access letter from anyone who shares an account but is not on the loan. See asset-based loans.
Your employer’s form
An employer who will complete the standard verification form. The lender sends the form to your employer and receives it back directly; you cannot fill it in or deliver it. See WVOE loans.
One thing not to send. On a bank statement loan, do not send tax returns unless your loan officer asks: if tax returns are in the file, the loan usually has to be reviewed as a full-documentation loan instead. The full list, route by route: mortgage documents for the self-employed.
Rental investors
Documents for a DSCR loan
A DSCR loan is a business-purpose mortgage on a rental property, qualified on the property’s own rent instead of your personal income. No tax returns or pay stubs are used.
Your credit and your recent mortgage or rent payments are still checked, and the appraisal includes a rent schedule. At closing you sign a statement that the loan is for business purposes and that nobody on the loan will live in the property, and a personal guarantee if a company holds title.
Buying several rentals, or holding them in a company? See investment property loans.
Most investors can start with these
- Bank or investment statements for the down payment, closing costs and reserves
- The current lease on a refinance, or the booking history for a short-term rental
- Your purchase contract, when you are buying
- Company documents if a company will hold title
- A list of the rentals you own, where the program asks about experience
- Photo identification
Printable
The whole checklist on one page
Tick off what applies to you and skip the rest. To keep a paper copy, use your browser’s print option.
Who you are
- Photo identification for every borrower
- Social Security number; proof of residency status or visa if you are not a U.S. citizen
- Addresses and employers for the last couple of years
- VA loans: Certificate of Eligibility
Your income (only your kind)
- Employees: recent pay stubs and W-2 forms
- Self-employed: personal and business tax returns, and often a year-to-date profit and loss statement
- 1099 earners: 1099 forms and proof of earnings so far this year
- Retired or on benefits: award letters and proof of receipt
- Rental income: leases and the tax returns that show the rent
- Alimony or child support you want counted: the court order and proof of receipt
Your savings
- Checking, savings, brokerage and retirement statements, every page
- A gift letter and proof of the transfer, if a relative is giving you money
- A short note tracing any large deposit to its source
Your debts and history
- Details of any debt not on your credit report, such as child support
- Papers for any money borrowed for closing
- Divorce decree or bankruptcy papers, if they apply to you
The home
- Buying: signed purchase contract, earnest money receipt, homeowners insurance before closing
- Refinancing: current mortgage statement, insurance declaration page, property tax bill
- Other homes you own: mortgage statements, insurance and tax bills, and leases if rented
Business owners and investors
- Proof your business is open, and a short description of it
- The papers for your option: bank statements, 1099 forms, a signed profit and loss statement, or account statements
- DSCR loans: the lease or booking history, and company documents if a company holds title
Questions
Common questions about mortgage documents
What documents do I need to apply for a mortgage?
Proof of who you are, proof of your income, statements for the money you are using for the down payment, closing costs and savings after closing, details of your debts, and papers about the home. Employees usually send pay stubs and W-2 forms; self-employed borrowers usually send tax returns or, on an alternative documentation loan, other proof of income. Your loan officer confirms the list for your loan.
Do I need my documents before I get pre-approved?
It helps to have them ready. For a pre-approval, the lender reviews your credit, income, assets and debts before you choose a home, so your pay stubs or tax returns, statements and identification let that review rest on real papers. A pre-qualification is a first estimate based on what you tell a loan officer, and nothing is checked yet.
How recent do my statements and pay stubs need to be?
Recent, and current through closing. Send your latest ones when you apply, and expect to send fresh copies if they go out of date before you close. Your loan officer tells you which months your program uses.
Why does the lender want every page of my bank statements?
The lender has to read each statement as your bank issues it, including the pages that look blank, so it can see every deposit and the full balance. Send complete statements, not screenshots; a missing page usually comes back as a request and can hold up the file.
What is a letter of explanation?
A short, signed note that explains something in your file, such as a large deposit, a gap in work or a recent credit check. Keep it factual, and attach any paper that backs it up, such as the record of a transfer.
Can I get a mortgage without tax returns?
Yes, on some programs. Bank statement, 1099 and asset-based programs document income without tax returns, and a DSCR loan on a rental uses the property’s rent instead of your income. Your income or the rent is still verified, and your credit, savings and the home are checked as on any mortgage. See alternative documentation loans.
What if a relative is giving me money for the down payment?
Tell your loan officer before the money moves. You usually need a gift letter from your relative and proof of the transfer, so the deposit can be traced to its source.
Do I need different documents to refinance?
Mostly the same identification, income and savings papers, with your current mortgage statement, your homeowners insurance declaration page and your property tax bill in place of a purchase contract. On a cash-out refinance or a home equity loan, you may be asked how you plan to use the money.
Will I be asked for more documents after I apply?
Often, yes. Underwriting returns a list of conditions: the proof still owed before closing, such as an updated statement or a note about a deposit. Answering each request quickly is the easiest way to keep your closing date. See how to apply for a mortgage.
Do you lend in my state?
Fidelity Residential is licensed in many states. The full, current list is on NMLS Consumer Access (opens in a new tab), or call us at 732-686-9999.
Have a question we did not answer?
Talk it through with a licensed loan officer, get a quote, or apply online.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
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