There are several steps you need to take when acquiring a mortgage.

Sales contract on the purchase of your new home. Copy of sales contract and certified closing statement on your current home. For FHA loans: Copies of your Social Security card and drivers license.

The following is a list of items and information your lender needs to process your loan in a timely fashion (like fast).

Employment History:

• Employment history for the last two years and complete addresses
• Employment dates
• W-2’s for the last two years
• Tax returns for the last two years, with all schedules signed in blue ink
• If there are any gaps in employment in the last two years (please explain).
• If you are self-employed, you will need to provide a current balance sheet, and a year-to-date profit and loss statement

Residence History:

• Two years of most recent residences with complete addresses
• Length of time at each residence
• Landlords name and complete address, if applicable

Accounts:  

• Names and addresses of each financial institution
• All account numbers
• Three months bank statements for all accounts
• All current balances and values

Loans and Credit Cards:  

• Creditor’s names and addresses
• All account numbers
• Current balances owed
• Monthly payments and number of payments remaining

Current Real Estate:  

• Property addresses
• Estimated market value
• Outstanding balances
• Monthly payment amounts
• Monthly rental income amounts, if applicable

Personal Property:  

• Year, make and value of your automobile
• Net cash value of your life insurance policy
• Value of your personal property

If applicable, the following information:

• Divorce papers
• Check / money order for credit report and appraisal

For VA loans:

• Certificate of eligibility & DD214