Mortgage Planning Group

Loan Application Info

What Information is Needed in the Pittsburgh Mortgage Loan Process?

Understanding the mortgage process when applying for a home loan in Pittsburgh, PA can get a little confusing. There are multiple steps to the application process that go beyond the pre-approval of loans. Fortunately, we pride ourselves in making sense of the Pittsburgh mortgage loan process for you. So, now that you have seen the four major milestones of the Pittsburgh mortgage loan process, what information will you need to get started?

What information do lenders need when considering you for a mortgage loan?

  • Social Security Number, for borrower and co-borrower, if any
  • Employment History:
    • For the last two years, employment dates, addresses, salary.
    • Current pay stubs or W-2 forms.
  • Checking and Savings Accounts and Certificates of Deposit:
    • Location of bank accounts, numbers, and current balances
    • Address of bank, if out of town
    • Last 3 months statements
  • Stocks, Bonds, and Investment Accounts:
    • Broker’s name and address, description of stocks, bonds, etc.
    • Last 3 months statements or copies of stock certificates
  • Life Insurance Policies:
    • Insurance company, policy number, face amount, cash value, if any
  • Retirement Plan:
    • Approximate vested interest value
    • Copy of latest statement
  • Automobiles:
    • Make and model of automobiles, their resale value
  • Other Assets:
    • Market value of personal and household property
  • Liabilities and Other Non-Mortgage Debt:
    • Creditors names, addresses, account numbers
    • Monthly payments and balances

Other income information you may need to begin the mortgage loan process:

If you’re self-employed:

  • Two years tax returns, profit and loss statements, both company and personal if separate.
  • Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.

If you have income from:

  • Commission
  • Overtime
  • Bonus
  • Partnership
  • Rental Property
  • Trust
  • Notes Receivable
  • Interests/Dividends
    • You’ll need two years personal federal tax returns

If you’re employed in family business:

  • Personal federal income tax returns and all schedules for the past two years

If  you’re divorced or separated:

  • Complete executed divorce decree and settlement agreement
  • Payment history of alimony/child support over the past 12 months if it is a financial obligation.
  • If you choose to have this be considered as part of your income (you don’t have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.

If you own real estate:

Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments, and balances

  • If you’ve sold your home but not closed:
    • A copy of the sales contract
  • If you’ve sold your home, closed, and you will use the proceeds for your new down payment:
    • A copy of the HUD-1 Uniform Settlement Statement

If you rent:

Name, address and phone number of landlords for the past 24 months

If you’re buying a home:

  • Purchase sales contract or offer to purchase and all addenda
    Furnish contract with original signatures of buyer and seller
  • If a source of your down payment is a gift:
    • Name, address and relationship of the donor.
    • Gift funds will be verified in both the donor and recipient’s accounts.
      • Note: Not all loan programs allow gifts to be part of your down payment.

For FHA Financing:

  • Evidence of Social Security Number and photo identification

For VA Financing:

  • DD214 and Certificate of Eligibility

For Construction/Perm Loan:

  • Signed construction with cost breakdown, builder plan, and specifications

Our Promise to You When it Comes to Your Mortgage Loan Process

Anything you submit through our website is 100% fully secure. During the mortgage loan process, we never share your information with anyone except by permission. If you’re giving us information to get you the best loan, we use it to tell mortgage lenders about you and convince them to loan you money. In turn, those mortgage lenders are bound by federal law to keep your information secure.