Whether you’re a first-time buyer or a seasoned homeowner, being prepared with the right documentation can make the mortgage process smoother and faster. Here’s a breakdown of what you’ll need to gather before you apply for a mortgage or refinance your current home.

For All Borrowers, Regardless of Whether You’re Buying or Refinancing, These Documents Are Essential:

Income Verification

Your lender needs to confirm your ability to repay the loan. Be ready to provide:

• Paystubs covering the most recent 30 days of employment, including year-to-date totals.
• The last two years of W-2s.
• If you’re self-employed, the last two years of full tax returns.

Disclosure Notices

You’ll receive several required disclosures during the process. Be sure to read, sign, and return them to your loan officer promptly to avoid delays.

If You’re Purchasing a Home:

Original Contract for Purchase (with all addendums)

This is the formal agreement between you and the seller. It’s recommended to get preapproved before signing a contract to strengthen your offer and streamline the process.

Bank Statements

If your down payment is coming from an account outside of First Commerce Credit Union, you’ll need to provide your two most recent bank statements from that institution.

If You’re Refinancing, You’ll Need A Few Additional Documents:

Mortgage Statement

Include your most recent statement showing:

• Mortgage company name
• Account number
• Current mortgage balance
• Escrow balances (if applicable)

Warranty Deed

A copy of the recorded deed with the legal description of your property.

Survey

Your most recent property survey helps confirm boundaries and structures.

Owner’s Title Insurance Policy

This protects against title issues and is required from when you originally purchased your home.

Homeowner’s Insurance Declaration Page

Provide a copy of your current insurance policy. It should include:

• Insurance agent’s name and contact info
• Cost and amount of coverage
• Flood insurance details, if applicable

Overview:

Having these documents ready before you begin the mortgage process can save you time and reduce stress. If you’re unsure about any of the requirements or need help gathering your paperwork, your loan officer is there to guide you every step of the way.

Ready to take the next step toward homeownership or refinancing? Reach out today and let’s make your home goals a reality.

First Commerce Credit Union provides this content to inform and inspire. While we strive for accuracy, we do not guarantee this information is accurate, complete or current.  This information is not professional advice (tax, legal, financial, etc.) and should not replace your individual consultation with qualified advisors. Laws, rules, and personal circumstances can change, so please verify how this information applies (or does not apply) to your situation and location. All decisions remain your responsibility. First Commerce Credit Union and its affiliates and employees assume no liability for outcomes resulting from the use of this material.