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Lenders go to great lengths to reduce their risks. They like to have hard proof of as many things as possible. This is actually better for you since, more hard proof tends to mean better terms for your loan. Either way, hard-to-obtain documents are often requested - sometimes at the last minute - putting your loan & your home purchase at risk. Having these on hand will reduce your headaches and worries & speed up your approval. By the way, never let go of your originals. Provide copies!

Here's the list of the more commonly requested information and documents, your lender may ask for other documentation as well:

1. Credit information:
   How much do you owe and to whom? This information will be found on your credit report, but tell your loan advisor up front during the application process. More complete information will increase the accuracy of a match between pre-qualification and final approval. You will need to provide individual letters of explanation for each account that has problems, e.g. why was this or that payment late, etc. It's not required but it would be in your best interest to check your credit report before you apply for the mortgage to make sure there are no errors. If there are errors and you don't know how to dispute them, see the articles in our credit section.
2. Recent paycheck stubs:
   Most lenders require the last 2 or stubs covering the last 4 weeks. This will show that you haven't taken any advances on your pay or that you are not re-paying a loan against your retirement account (both of which effectively reduce your income) and are getting paid what you said you are. As you might imagine, it also serves as strong proof of current employment, too! It may take a few more pay cycles to get to the closing table, so keep track of your pay stubs because a lender just might ask to update your file with the most recent two, just a day or two before you go to the closing.
3. Tax returns and/or W-2s:
   Have your tax returns and W-2s from the past two years handy. They may only actually need your W-2s and not your whole tax return at all, but it's better to be fully prepared.
4. Employer's address and phone number:
   It's not a document but they'll need this information for employment verification later on. Your Loan officer will get this information as part of the official loan application.
5. Bank statements from the last two months:
   If your income is difficult to document, for whatever reason, you may need to provide up to 2 years of bank statements. If you don't have them on hand, know how to get them and how long it will take to get them. There are banks that take weeks to provide copies of bank statements and some charge hefty fees, too.
6. Documentation of funds:
   Have account statements for the last three months from any brokerage/savings/investment account that you intend to withdraw money from for your down payment. Be prepared to explain and even document any large deposits, e.g. divorce settlement, inheritance, cashed out investment, big win at the track or casino.
7. Financial paper trail:
   Keep records/paperwork on any and all funds you move around, such as stocks cashed in, etc. You need to be able to prove to the lender that you didn't borrow the money under the table.
8. A copy of the sales agreement for the house that you are buying.
9. A copy of the sales agreement for the house that you sold. If this applies.
10. Offer letter:
    This may not apply to very many people, but if you are relocating to a new location and job, have a copy of the offer letter, plus - ideally - a letter saying you've begun work at that location. Your salary needs to be included in the letter. This may not be as critical since a verification of employment could be completed by the new employer, verifying: salary, bonuses and expectation of continued employment.
11. Canceled checks from any previous mortgage (or rent checks):
    If you have been paying a mortgage to a private individual, you may need to produce cancelled checks (both sides) in addition to a formal Verification of Mortgage (VOM) completed by the private mortgage holder.
    Another reason you want cancelled checks from your mortgage payments is that there is always a chance that your credit report will have some errors - over 70% do. If they report that you missed a payment or they have a gap in their reporting, providing cancelled checks of what really happened can make a huge difference. If you don't already have them (or at least know where they are), you should know how to obtain at least 12 months of your most recent payments. Many banks take weeks to get them for you and they'll charge you, too. You may not need them but it's much better to be prepared.