What will I need to support my mortgage application?

To support your mortgage application you will need to provide the following documents:

Income Verification

• If you are employed: pay slips for the past three months
• If you are self-employed: profit and loss statements and tax returns for the past three years
• Additional income if lenders will take this into account. This could include social security, regular overtime bonuses, commission, interest income, and any other benefits .

Asset Verification

• List of bank account numbers, your bank branch address, current and savings account statements for the previous 2-3 months
• List of savings bonds, stocks or investments and their approximate market values

Information about the purchase

• Copy of the signed purchase contract

Your debts

• Credit card bills for the past 2-3 months
• Details of other personal debt such as car loans, student loans and other personal loans with addresses and phone numbers of the lenders
• Documentation showing mortgage and/or rental payments
• Documentation showing child support or divorce settlement contributions

If you have no established credit history because you have no loans or credit cards, you will need to prove your ability to pay with paid utility bills and details of other recurring obligations such as rent payments.

You may also be asked to prove how you raised your deposit. If the money was a gift from your parents or another relative, you may need to provide a signed letter stating that the money does not need to be repaid.

If you can supply all these necessary items - it will greatly speed the mortgage application process up. Most of the delays that occur with mortgage applications as due to the borrower not being able to provide the right documentation.

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