If you decide to refinance or purchase a home with a mortgage, you will be required to fill out a loan application form and sign a set of disclosures in order to initiate the mortgage process.

This bundle of documents includes things like the Truth in Lending disclosure, the Good Faith Estimate, the HUD-1, Credit Report disclosure, a Social Security release form, and many more.

The GFE and TIL and HUD-1 have since been replaced by the “Loan Estimate” and the “Closing Disclosure.”
These disclosures provide important details about your loan and allow the bank or mortgage broker to gather sensitive information about you such as employment and credit history, bank statements, income documents, and so forth.
When all the disclosures are signed, the loan process can begin. At that time, the loan officer or mortgage broker will collect important documents from you and submit your loan application to the underwriter.

If your mortgage application is approved, you will receive a conditional approval from the mortgage underwriter with a set of conditions that need to be met in order to receive loan documents. These are called “prior to document” conditions, or PTDs because they must be satisfied before loan documents can be drafted and sent out.

Once loan documents are signed, “prior to funding” conditions will need to be met to ensure the loan actually funds and records. These are usually sent back along with the loan documents from title/escrow.

Below are some of the basic documents you’ll need to provide to effectively get your loan funded based on documentation type:

Signed loan application

Latest 2 years tax returns and/or pay stubs

Latest 2 months bank statements, Verification of Deposit (VOD), or other acceptable asset reserves

*CPA letter and/or business license if self-employed stating 2+ years employment in same job or field.

The bank or lender will call your employer if you are W-2 and do a verification of employment.

Gift letter for down payment (if applicable)

Rental history (typically 12 months of canceled rent checks) if currently renting or VOR

Home Appraisal

Preliminary Title Report

Proof of insurance (Hazard, Flood, etc.)

Signed Disclosures

Letter of Explanation(s) (for any issues that need clarification)