Documentation Checklist For Borrowers

Documentation Checklist For Borrowers

California 55 Plus
California 55 Plus
Published on October 26, 2022

Documentation Checklist For Borrowers

Documentation Checklist For Borrowers

Documentation process involved while buying a new house can be a little over whelming if you don’t have the right information. The process has become even tougher and time-consuming since the financial crisis of 2008. Buyers now have to provide more paperwork than ever to get approved for a loan be it a government backed loan, a qualified mortgage or even a jumbo loan. You can make it easier for yourself by making a checklist of all documents required in the entire process and consulting a professional with any questions you may have.


The list of necessary documents for the borrower is as follows:

  • Copy of signed sales contract
  • Copies of paycheck stubs for the last 30 days or most current paycheck
  • A copy of driver’s license for applicant. If there is a co-applicant, provide his copy as wel
  • A copy of Social Security card for the applicant. If there is a co-applicant, provide his copy as well
  • Copies of W-2 forms for the last two years
  • Copies of buyer’s tax return for the past two years
  • Copies of all bank account statements – checking or saving – for the last two months
  • Copies of quarterly or six-month statements for checking accounts, saving accounts, IRA’s CD’s, money market funds, stocks, 401k, profit sharing and any other income streams
  • Last two year’s employment history
  • History of residential addresses for the last two years. In case of rented properties, provide land lord’s name, address and phone number
  • Check or credit card for appraisal fee
  • Refinance Copy of Note
  • Deed of Trust and Settlement Statement
  • Survey and Insurance information


For self-employed borrowers, the criteria of required documents is a little different and they need to present some additional documents in order to qualify for loans. These include:

  • Copies of tax returns for the past two years (with all Schedules, including K-1’s, if applicable)
  • Copy of corporate/partnership tax returns for most recent two-year period, if owning 25 percent or more of company – copies of W-2’s and/or 1099 forms

  • Retired military personnel applying for VA or FHA loans need to provide VA:DD214 discharge paper as well, in addition to the documents listed earlier.
  • Additional documentation checklist, if applicable
    • If a move is financed by the employer according to a Relocation Agreement, buyout agreement and documents representing company-paid closing costs benefits have to be provided
    • For divorced persons, divorce decree and other divorce documents are to be provided
    • Documents supporting the receipt of gifts or money received from non-profits must be provided
    • If you have filed for bankruptcy previously, copies of petition for bankruptcy and discharge as well as supporting schedules must be presented
    • Proof of income received from Social Security or retirement trust which includes copies of direct deposit bank statements and awards letter is required

    Following this checklist can help you a great deal in gathering all the necessary documents saving you time and making your purchase a smooth experience. Our professionals can make this exciting purchase effortless.

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