Items Needed for Mortgage Application


Items Needed for a Smooth Mortgage Application Process

With the help of one of our advisors, completing the mortgage application is simple. In order to provide timely service we recommend you collect the following items as soon as possible. These items will be required for all borrowers on the loan. Your mortgage advisor will instruct you how best to remit these items to PMA and will be happy to review this list with you and answer any questions you may have.

Here is a preliminary list of what we will need:

  • A copy of the executed sales contract if you are purchasing.
  • Copies of your most recent pay checks covering the most recent four week period.
  • Your last two years W2 forms..
  • Your last two years of Federal personal tax returns.
  • If self-employed then we will need your last 2 years of Federal business tax returns. Note: self-employed is defined as owning 25% or more of any business.
  • Your last two months of bank statements for all checking, savings or brokerage accounts.
  • Your most recent statements for all retirement accounts.
  • Copies of the most recent statements for all mortgages you are obligated to repay.
  • Investment property information if applicable: include copies of rental agreements.
  • There may be some special situations that require you to supply additional information. These could include:
    • If you are not a U.S. citizen, you will need a copy of your Green Card or Visa.
    • If you are separated or divorced, you should bring a copy of your divorce decree or separation agreement. Also bring documentation on alimony, child support, or separation maintenance payments if you are required to make payments or you receive as income. Proof of this income can be a copy of the court order to receive payments or canceled checks for the past year. Note: alimony, child support, or separation maintenance income need not be revealed if you (or a co-borrower) do not choose to have it considered for repaying this loan.
    • If you include pension, disability, Social Security, or other public assistance as part of your income, you will need to bring a copy of your award letter from the issuing agency.
    • If you have had a bankruptcy, foreclosure, or any other judgments against you over the past seven years, you will need to bring relevant information about the proceedings. Such information includes a copy of the bankruptcy discharge and schedule of both debts and assets.