Getting your documents organized early can help make the mortgage process easier. The information your lender needs will depend on your loan program, employment, income, assets, property and individual financial situation.
You may not need every document listed on this page, and additional documentation may be requested during the mortgage process. Your loan professional can help you understand which documents apply to your situation.
Mortgage documentation varies by borrower and loan program, but the following are some of the documents that may be requested. Your loan professional will let you know which items are needed for your specific situation.
Documents to Have Available
Income & Employment
Pay stubs, W-2s, tax returns or other income documentation may be requested depending on your employment, income sources and loan program.
Assets & Funds for Closing
Bank, investment or retirement account documentation may be requested to verify assets, funds needed for closing or applicable reserves.
Property & Transaction Documents
For a home purchase, documentation may include the purchase agreement and other information related to the property or transaction. For a refinance, different property documentation may be required.
Additional Documents That May Apply
Depending on your situation, additional documentation may be needed for items such as gift funds, rental income, other real estate owned, large deposits, or other income and financial obligations.
Identification & Other Information
Your lender may also request identification and other information needed to verify your application and complete the mortgage process. Requirements vary depending on the borrower, transaction and loan program.
If you're self-employed, the documentation needed to evaluate your income may differ from what is requested from a W-2 employee. Depending on your business structure, income history, loan program and individual circumstances, your lender may request tax returns, business financial information or other documentation used to evaluate qualifying income.
Not every self-employed borrower will need the same documents. Redwood Mortgage Services can review your situation and help you understand what may be needed before you apply.
Self-Employed and Not Sure Where to Start?
Traditional tax-return documentation isn't the only financing approach that may be available. Depending on your situation, alternative-documentation mortgage programs may also be worth exploring.