When the time comes to purchase a home in Northern VA there will be a great deal of financial documents needed for a mortgage loan. Mortgage lenders will request just about everything when it comes to determining a person credit worthiness and financial standing. Gathering these documents early while still in the home search stage will make the process much smother and final approval will come sooner. Be prepared to provide some of these documents at the time of application as well as just before settlement of your home in Northern VA.

• Copy of Driver’s License, DMV ID Card (with Photo), Military or Government Issued ID (with Photo and Signature), Permanent Resident Alien (Green Card) OR Government Passports (must bear a Photo and Signature).

• Copies of the 4-6 most recent pay-stubs covering the last 60 days of employment with year-to-date earnings. **All pages.

• Copy of the last two years Tax Returns with all schedules. If you own a business, last two years federal tax returns for corporate, partnership, or S- Corporations with all schedules and K-1’s. ****All pages must be signed.

• Copy of your past 2 years W-2’s and/or 1099’s.

• Copies of most recent asset account statements covering the most recent 2 months or most recent quarter on all accounts to include: checking, savings, mutual funds, stocks, bonds, 401k and/or IRA accounts. Provide all pages for each statement and make sure that the statements contain your full name, account number, and the bank’s name.

• Once a home is under contract provide the executed, signed Northern VA purchase agreement, and all related addendum.

• Copy of Earnest Money Deposit Check and updated bank statements that show your earnest deposit check clearing your account (if/when available).

• Provide the name of agent and phone number of homeowner’s insurance agent.

• Contact name and phone number for HR for verification of employment.

• Any accounts with negative reporting on credit will require a letter of explanation and outcome.

• Multiple Addresses reported on credit may need letter of explanation (ex. Current, previous, unknown, etc).

These documents are only needed if applicable:

• Self-employed borrower will need to supply last 2 years of the Business Federal tax returns with all pages, schedules, and attachments.

• Using income from other sources (i.e. Social Security, Pension, Alimony or Child Support) provide a copy of evidence of continuation, such as an awards letter or divorce decree.

• Deferred Student loans, need documentation on how long they are deferred, or your projected payment.

• Complete signed copies of divorce decrees, separation agreements, and associated amendments to support alimony and child support payments. **All pages

• Complete bankruptcy papers, including filings, discharge papers and list of creditors.

• VA buyers: DD-214 and Certificate of Eligibility (Lender can order), or active duty orders if moving into the area. If you receive disability or retirement, provide the proper documentation.

• If you are self-employed and an accountant prepares your taxes, need a copy of your current Business License. If you do not have a business license, you will need an official, signed letter from your accountant stating you are self employed and they have prepared your tax returns for a stated number of years.

Bottom Line

Every mortgage borrower and loan is different and there may be other requested documentation necessary to approve a mortgage loan. Be patient through the process and fill the requests as soon as possible as to not delay your purchase.