In general when filling out a mortgage application you will need to provide the following.
• Paystubs for the past two to three months
• W-2 forms for the past two years
• Information on your outstanding debts
• Recent bank statements
• Tax returns for the past two years
• Proof of all income
• Address and legal description of property you want to buy
• Sales contract
Your lender may request additional documents, as well. What the lender wants is a complete picture of your income, assets, and debts.
When applying for a mortgage:
• Make sure that you read and understand the documents before you sign.
• Refuse to sign blank documents.
• Do not sign a mortgage application for someone else to purchase a home, even if that person is family. By signing, you are liable for the entire mortgage.
• Be honest in filling out the application.
• Do not overstate your income.
• Do not understate your debts.
• Be truthful about any credit problems.
• Do not list fake co-borrowers on the application.
• Do not supply false supporting documents.
• Do not alter your tax returns or W-2 for the application.
• Tell the truth about gifts that are being used for a down payment.