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Mortgage loan documents checklist: 10 things you'll need and where to get them

With the help of this checklist, you’ll be totally prepared to apply for a loan when you find your dream home.

Organization: It's a simple word, but it can reduce a lot of potential frustration during the home buying process. This mortgage loan documents checklist can help make your journey to a new home speedy and stress free.

1. Tax returns

Sometimes you only need your tax returns from the previous year, but you can be extra prepared by getting copies of your returns from the past 2 years. You can request a free tax transcript from the IRS. In some cases, BB&T may ask you to complete a Form 4506.

2. Proof of income

If you're buying a home, you of course have steady, reliable income—although you'll still need to provide 30 days' worth of pay stubs. You can ask your employer for copies if you don't receive physical pay stubs.

Those who are self-employed will be asked for a year-to-date profit-and-loss statement and/or business tax returns. And if you earn income from rental properties, add lease agreements to your mortgage loan documents checklist.

3. W-2s or 1099s

Providing 2 years of W-2s, or 1099s for those who are self-employed, will give BB&T a more complete snapshot of your income trends. You can request copies from the employer or client who issued these forms if you ever misplace them.

4. Bank statements

By printing at least 2 months of bank statements for each account you have, you'll show BB&T that you make consistent on-time payments and maintain a steady balance.

5. Asset statements

This includes statements for assets such as CDs and retirement, money market or brokerage accounts. The more, the merrier!

6. List of debts

BB&T reviews outstanding debts like student loans, credit cards and car loans to determine your debt-to-income ratio and help make sure you're on track.

7. Driver's license

Assuming you are who you say you are, this one should be easy! Just make a copy of your unexpired driver's license to hand off to BB&T.

8. Bankruptcy paperwork

Have you filed for Chapter 7 or Chapter 13 bankruptcy in the past 7 years? Compile this paperwork, including a list of creditors associated with the filing.

9. Divorce paperwork

If you've been through a divorce, your divorce decree shows BB&T what payments—if any—are being made for alimony or child support.

10. Proof of rent payments

This is more applicable to first-time homebuyers. You can show you've been making on-time rent payments by gathering 12 months of canceled rent checks from your bank or getting verification from your apartment rental company.

Keep it up. You're getting smarter about home buying.

Related topics

Loan approval process

Get a clear picture of what happens after you submit your mortgage application.

Your mortgage checklist

Gather what you need in advance to save time during the BB&T mortgage process.

How long does it take to get a mortgage?

With the right preparation, you can have your mortgage loan in as little as one month.

Loans, lines of credit and credit cards are subject to credit approval.

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