"Mortgage paperwork" is mostly about providing documents that show how much you earn, where you've lived, monthly debts and account balances. You can provide much of this information in person or on your application; however, there are several additional documents you may need to provide depending on where you are in the loan approval process.
Mortgage prequalification checklist
Getting prequalified is convenient. Here's what we'll need from you:
- Your name (and any co-buyers' names)
- Current address
- Estimated annual household income
- Estimated monthly household debt expenses
Mortgage prequalification is an assessment of whether your debt-to-income ratio fits mortgage guidelines and provides an estimate of the amount you may be able to borrow. You can also request a prequalification letter, which you can give to your real estate agent to show you are a serious home buyer. Prequalification is optional, but it's a helpful step in the process of buying a house.
Mortgage prequalification is free and doesn't require a commitment from you or the bank. See if you prequalify today.
Mortgage pre-approval checklist
Whether you've completed the prequalification process with U.S. Bank or not you can apply for pre-approval at any time. The first step is to complete a full mortgage loan application, including the following information.
This is a partial list; your mortgage loan officer can tell you about any additional requirements.
- Your residential address for the past two years
- Landlord names and addresses for the past two years
- Bank account statements from the most recent months for all checking and savings accounts
- Other asset statements from the past two months for any CDs, IRAs, stocks, bonds or other securities you intend to use for your down payment
- Current real estate holdings, including property address, current market value, mortgage lender's name and address, loan account number, balance and monthly payment
Employment & income history
- Paycheck stubs from the last 30 days showing your year-to-date earnings
- W-2 or I-9 tax forms (issued by your employer) for the past two years
- A list of any new monthly debts not listed on your credit report (auto loans, student loans, mortgage loans, credit cards, etc.), including creditor name, address, account number, minimum monthly payment amount and outstanding balance on each account
Additional documents may be required at your mortgage closing. Your real estate agent and mortgage loan officer will let you know which documents will be needed when you close on your new home and they'll work closely with you at each step of the mortgage process.