Mortgage Tips and Checklists

We like to be as helpful as possible, so we have compiled our most popular mortgage tips and checklists to help prepare you for your homeownership journey. 

12 Steps for Buying Your New Home Checklist

  1. Get pre-qualified for a mortgage
  2. Read the purchase contract in its entirety and ask questions if you need further explanation on any part
  3. Use a licensed home inspector, as they will be able to give you a clear idea of what shape the house is truly in
  4. Put the money you saved for your down payment and closing costs aside in an account you wouldn’t normally access. This way, you won’t be tempted to use the funds
  5. Do not deposit undocumented funds, and only use the funds that have been verified for your down payment
  6. Don’t take out a credit card advance to use for your down payment or closing costs, and do not acquire new debt before the closing
  7. Do not open new credit cards or loans before you have closed on your .mortgage - even interest-free - to consolidate debt
  8. Scan, fax or copy your pay stubs or other documents that is requested. Do not send images of them from your cell phone
  9. Submit additional documentation requested by the processor or underwriter as promptly as possible
  10. Send every page of your bank statement, even if you don’t think there’s anything relevant on the last page
  11. Do not cross out your account numbers on any of the documentation you submit to get your loan approved
  12. Bring a certified check or wire transfer when you attend the closing

Download the 12 Steps for Buying Your New Home Checklist



Home Loan Document Checklist

Mortgage loan vendors are required to fully document a potential homebuyer’s ability to repay prior to issuing a loan approval. To complete the mortgage loan processing and underwriting, borrowers should be prepared to provide the following for a full documentation loan:

✔  Completed Uniform Residential Loan Application (Form 1003) 

✔  Two most recent pay stubs for each borrower that reflect at least 30 days year-to-date earnings 

✔  Most recent W2 for each borrower 

✔  Credit Report (this will be pulled by the loan originator) 

✔  If self-employed, or if more than 25% of income is from sales commission, provide both personal and applicable business tax returns. In addition, in many cases business Profit and Loss Statements, Balance Sheets, and business bank account statements are required


In addition, the following may be required as documentation for a home loan: 

✔  Copies of Driver’s License and Social Security Cards (or other identification items) if getting a government loan (FHA or VA) or any 2nd Lien Loan for purchase money 

✔  Most recent two months bank statements (all pages) from whichever account will be used to pay for down payment and cost at closing 

    1. This statement must show the Beginning Balance and Ending Balance for each period        
    2. This statement must include the account holder’s name and some portion of the account number 
    3. Online statement printouts can be used if the first two requirements are met, and if it includes the banking institution’s name 
    4. Please be ready to explain any large recent deposits into this account 

✔  Additional asset account statements (checking accounts, saving accounts, mutual funds, stock accounts, retirement accounts) to verify cash reserves 

✔  Gift letter if a portion of the down payment or closing costs will be paid via a gift 

✔  Name and contact information of insurance agent 

✔  Lease agreements for any rental properties 

✔  Letter explaining any derogatory credit lines on the credit report 

✔  Complete copy of bankruptcy papers, including discharge 

✔  Proof of child support income 

✔  Copy of Divorce Decree


Download the Home Loan Document Checklist



VA Loan Document Checklist

Mortgage loan vendors are required to fully document a potential home buyer’s ability to repay prior to issuing a loan approval. To complete the mortgage loan processing and underwriting, VA borrowers should be prepared to provide the following for a full documentation loan:

✔  Driver’s license or military identification card 

✔  Social Security card 

✔  DD214 or Statement of Service (documents may vary depending on branch and duration of service) 

✔  Certificate of Eligibility (COE), we can order a recent copy if needed 

✔  If employed, two most recent paycheck stubs and W-2 statements for the last two years 

✔  Past two years of tax returns 

✔  Most recent bank statements and asset statements for two months (all pages) 

    1. This statement must show the Beginning Balance and Ending Balance for each period        
    2. This statement must include the account holder’s name and some portion of the account number 
    3. Online statement printouts can be used if the first two requirements are met, and if it includes the banking institution’s name 
    4. Please be ready to explain any large recent deposits into this account 

✔  If retired, 1099 forms for retirement income, and all pages of the applicable year personal tax return 

✔  Social Security awards letter or current Social Security statement 

✔  VA disability awards letter (if applicable)

✔  Child support or divorce decree orders (if child support or alimony payments apply) 

✔  If bankruptcy has been filed in the last seven years, all schedules and paperwork documenting discharge of the bankruptcy


Download the VA Loan Document Checklist



7 Tips to Help with Your Mortgage Application Checklist

1. Know Your Credit Score (And Work on Getting It Higher)

If it’s below 650, consider taking simple steps like reduction of credit card balances to increase your score. The more you can raise your score, the better mortgage rate you will qualify for, and the higher the probability for approval

2. Gather Your Financial Documentation Early

In today’s mortgage process, documentation is a necessity (W2s, pay stubs, bank statements, two years of tax returns, 401K and IRA), and you can shorten the timeline by submitting them all together at the beginning of the process

3. Get Pre-Qualified

Getting pre-qualified for a loan gives you an idea of what sort of mortgage rate you qualify for, and helps guide you in what price range to be looking in

4. Choose the Right Professionals

The quicker, more efficient and more knowledgeable your pros are, (lender, loan officer, real estate agent and even home inspector) the easier your mortgage process will be from beginning to end

5. Talk to Your Employers

Your employment will need to be verified, so be sure to contact your employer and let them know what to expect, and when to expect a call or email from your lender — so they can make it a priority

6. Respond Quickly

No matter how well you gather and organize your paperwork in the beginning, chances are your lender will still need another form, or they’ll need you to come in and sign something. Whatever it is, make sure you respond quickly

7. Avoid Big Purchases — and New Credit — During the Process

Your credit profile shouldn’t change while you’re applying for a mortgage, so avoid any big purchases that could eat into your savings or make you look like less of a responsible borrower


Download the 7 Tips to Help with Your Mortgage Application Checklist



Moving Checklist

Several weeks prior to your move:

✔  Review your relocation package (if you have one) and determine what expenses will be paid by your company

✔  Start a log of moving expenses receipts (some may be tax deductible; consult your tax professional)

✔  Get written estimates from moving companies. Check the limits of insurance they offer

✔  Start to dispose of unwanted items by having a garage sale or making donations to charitable organizations (obtain receipts for possible tax deductions; consult your tax professional)

✔  Only buy items that will be used before moving

✔  Collect and return items borrowed by neighbors and friends. Don’t forget any library books

✔  Purchase supplies like packing tape, bubble wrap, furniture pads and boxes

Just prior to moving day:

✔  Check in with your movers and confirm the start time of your move

✔  Make sure you have all the documents related to your move on hand

✔  Pack “Open-First” boxes. For each room you pack, set aside one box that contains everything you’ll need the first few days in your new home. Label the boxes “Open-First” so that these will be the first boxes you unpack

✔  Finish taking apart furniture that needs to be disassembled

✔  Write down serial numbers as you pack up your computer and electrical equipment

✔  Make sure all boxes are clearly marked/labeled

✔  Start cleaning the house as you go

✔  Close local accounts (banking, gym memberships, etc.) if necessary

On moving day:

✔  Check the truck, trailer or portable container for cracks, leaks or other signs of wear. Raise any concerns with the movers

✔  Load items in predesignated order, with “Open-First” boxes last

✔  Check all closets, cabinets and rooms to make sure you didn’t leave anything

✔  Leave all keys and garage door openers needed by the new owner. Also leave a note with your contact information

✔  Carry currency, jewelry and important documents with you or use registered mail

✔  Check thermostat and make sure temperature is set appropriately

✔  Take out garbage


Download the Moving Checklist