When you are ready to get started, here is a comprehensive list to guide you through the mortgage loan application process.
While this list covers most of the documents that a lender might request, it may be customized for your specific situation. Your American Pacific Mortgage loan advisor can give you an individualized picture of the specific documents your loan may need.
List of requested documents:
Financial and income documents
- Most recent pay stubs covering the last 30 days
- W-2s for the last two calendar years
- Two most-recent statements for all checking, savings, CD, money market, and/or securities-brokerage accounts (please include all pages)
- Most recent statements for all retirement accounts (IRAs, SEP-IRAs, 401-(k)s or 403-(b)s)
- Most recent statement of stock options, employee stock option purchase plans, and similar if you’re using them as part of the down payment or for closing costs
- Federal tax returns (1040s) for the last two calendar years; please include complete returns with all schedules filed
- YTD Profit & Loss Statement if you’re self-employed or an independent contractor
- All federal K-1s, partnership returns (1065s) and corporate or S-corp. returns (1120s or 1120-Ss) for the last two calendar years
- Mortgage, real estate tax, and insurance premium statements for all properties currently owned
- Leases on all rental properties you may own, if applicable
- Complete bankruptcy papers, if applicable
- Divorce decree and settlement statements, if applicable
Proof of identity
- State-issued driver’s license or passport showing your date of birth to satisfy Patriot Act requirements
- If not a U.S. citizen: a resident alien card (front and back); resident alien application or H1B or L1 Visa plus passport as applicable
Some Things to Consider
Before you begin the application process, be mindful of actions that may impact your ability to get the most competitive rate on your loan.
Do not make large purchases on credit, open new credit card accounts, or closes credit accounts or credit lines.
Do not change jobs if possible during the loan process, or your loan may need to be re-approved.
Avoid moving money unnecessarily from one account to another. If you do need to move money, be sure that there is a clear paper trail. Make copies of deposited checks, deposit receipts, and wire transfer orders. Any large deposits should be well documented.