LOAN CHECKLIST
WANT A FAST MORTGAGE
PROCESS? GET ORGANIZED EARLY.
WANT A FAST MORTGAGE PROCESS? GET ORGANIZED EARLY.
Your mortgage application will require numerous forms of documentation. Speed up the process by gathering your paperwork and organizing it early.
The mortgage process can be a time-consuming one if you’re not properly prepared. To help your application go as smoothly as possible, it’s important to gather and organize the necessary paperwork early — long before you apply for your loan. This will ensure things move quickly, and that your Louisiana mortgage loan is on track for an efficient and timely closing.
THE DOCUMENTS YOU’LL NEED
You’ll need to provide the Essential Mortgage team with documents that can support your mortgage application. These documents generally fall into four categories: property information, personal information, income & earnings, and credit & debts.
Here’s a full list of the documents you’ll need to provide when applying for your loan.
INCOME & EARNINGS
- The last 30 days of pay stubs (make sure these include your year-to-date earnings, too)
- Your tax returns and W-2s from the last few years, including all pages
- The last two months of statements for any bank accounts, savings accounts, investments, mutual funds or assets you hold
- A copy of your pension or Social Security award letter, if you’re retired
- Copies of any rental agreements, property tax statements and homeowner’s insurance policies if you own income-producing rental property
- A copy of your mortgage statement, property tax bill and homeowner’s insurance if you already own a property and are not selling it first
- For business owners: The last two years of your corporate or partnership tax returns, if you own at least a quarter of the organization
- For self-employed applicants: The last two years of personal/business tax returns, including Forms 1120, 1120S and 1065, if possible
- For those using child support to qualify: Your divorce settlement (if applicable) and three months of canceled child support checks or 12 months of payment history from your county’s child support department
CREDIT & DEBTS
- Permission to run your credit report (there may be a fee for this)
- Written explanations for any negative items found in your credit history
PERSONAL INFORMATION
- A copy of your driver’s license or state I.D. (for you and any co-borrowers)
- Your Social Security Number
VA LOANS
If you’re a military member or veteran applying for a VA mortgage loan, then you’ll also need the following documents:
- A copy of your DD Form 214, Report of Separation
- Your Certificate of Eligibility
IS THIS EVERYTHING?
This may or may not be all the documents we need to process your loan. Every application is different, and there may be additional paperwork the Essential Mortgage team needs along the way. If we request additional items, try to respond as promptly as possible to keep your loan from being delayed.
HOW DO I PROVIDE THESE DOCUMENTS?
You have options when providing these documents to your Essential Mortgage loan officer. If you have the documents in print form, you are free to fax them directly to the Essential Mortgage office. If electronic delivery is easiest, we’ll provide you with a secure link and depository where you can upload your paperwork in a safe and secure manner.
WHY DO WE NEED ALL THIS PAPERWORK?
You’ll provide in-depth information on your mortgage application regarding your income, assets, employment and other financial data. Our job is to verify that information using official documentation from your bank, employer and other official sources.
NEED MORE HELP?
If you have questions, need more help or just want additional guidance on the paperwork required for your mortgage application, reach out to the Essential Mortgage team today.