Mortgage Checklist

Getting a mortgage can feel exciting and scary at the same time. You are not just trying to get approved. You are trying to prove income, protect your credit, save enough cash, compare offers, and avoid a payment that makes life tight after closing.

Use this checklist before preapproval, before making an offer, while comparing lenders, and before signing final mortgage documents.

Check credit, lower risky balances if possible, gather income documents, and know your safe monthly payment.

Check taxes, insurance, HOA, repairs, cash to close, and whether the payment still feels safe.

Review the Closing Disclosure, verify cash to close, avoid new credit, and ask questions before signing.

Mortgage Readiness Priority

Identity & Personal Info

• Government ID.
• Social Security number or taxpayer ID if required.
• Current and past addresses.
• Marital status if required.
• Contact information.

Income & Employment

• Recent pay stubs.
• W-2s.
• 1099s if applicable.
• Tax returns.
• Self-employment profit/loss if needed.

Assets & Cash

• Bank statements.
• Investment statements if used.
• Retirement statements if used.
• Gift letter if applicable.
• Proof of down payment funds.

Payment Details

• Principal and interest.
• Property taxes.
• Homeowners insurance.
• Mortgage insurance if needed.
• HOA dues if applicable.

Loan Costs

• Interest rate.
• APR.
• Origination charges.
• Discount points.
• Closing costs.

Risk Questions

• Is the rate fixed or adjustable?
• Can the payment change?
• Is there a prepayment penalty?
• How much cash is needed to close?
• What happens if taxes or insurance rise?

Credit Prep

• ☐ Pull credit reports
• ☐ Check score range
• ☐ Check late payments
• ☐ Check collections
• ☐ Check high balances
• ☐ Check recent hard inquiries
• ☐ Dispute errors if needed
• ☐ Avoid new credit before applying

Budget Check

• ☐ Monthly income listed
• ☐ Monthly debts listed
• ☐ Target payment chosen
• ☐ Property taxes estimated
• ☐ Insurance estimated
• ☐ HOA dues checked if applicable
• ☐ Utilities estimated
• ☐ Repair cushion planned

Cash to Close

• ☐ Down payment saved
• ☐ Closing costs estimated
• ☐ Inspection money saved
• ☐ Appraisal money planned
• ☐ Moving costs planned
• ☐ Emergency fund kept
• ☐ Reserves checked
• ☐ Gift funds documented if used

Identity & Personal Info

• ☐ Government ID
• ☐ Social Security number or taxpayer ID if required
• ☐ Current address
• ☐ Previous addresses
• ☐ Contact information
• ☐ Marital status if required
• ☐ Co-borrower info if applicable
• ☐ Legal name checked

Income Documents

• ☐ Recent pay stubs
• ☐ W-2 forms
• ☐ 1099 forms if applicable
• ☐ Tax returns
• ☐ Self-employment records
• ☐ Bonus/commission proof if used
• ☐ Benefit income proof if used
• ☐ Employer contact info

Asset Documents

• ☐ Checking statements
• ☐ Savings statements
• ☐ Investment statements if used
• ☐ Retirement statements if used
• ☐ Gift letter if applicable
• ☐ Large deposit explanation if needed
• ☐ Down payment proof
• ☐ Reserve funds proof

Debt Review

• ☐ Credit card payments
• ☐ Auto loan payments
• ☐ Student loan payments
• ☐ Personal loan payments
• ☐ Child support/alimony if applicable
• ☐ Buy-now-pay-later accounts
• ☐ Co-signed debts
• ☐ Total monthly debt checked

Preapproval

• ☐ Lenders compared
• ☐ Preapproval documents submitted
• ☐ Hard pull understood
• ☐ Approved amount reviewed
• ☐ Personal comfort payment chosen
• ☐ Preapproval letter saved
• ☐ Expiration date noted
• ☐ No big financial changes planned

Loan Estimate Review

• ☐ Interest rate checked
• ☐ APR checked
• ☐ Monthly payment checked
• ☐ Closing costs checked
• ☐ Cash to close checked
• ☐ Loan type checked
• ☐ Mortgage insurance checked
• ☐ Costs that can change reviewed

Home Shopping Guardrails

• ☐ Max price set
• ☐ Max payment set
• ☐ Must-have list made
• ☐ Nice-to-have list made
• ☐ Taxes checked by home
• ☐ Insurance estimate requested
• ☐ HOA dues checked
• ☐ Repair risk considered

Before Closing

• ☐ Closing Disclosure reviewed
• ☐ Final cash to close confirmed
• ☐ Wire instructions verified safely
• ☐ Final walkthrough scheduled
• ☐ Homeowners insurance confirmed
• ☐ No new credit opened
• ☐ No large purchases made
• ☐ Questions answered before signing

Red Flags

• ☐ Payment feels too tight
• ☐ No emergency fund after closing
• ☐ Terms are unclear
• ☐ Costs changed without explanation
• ☐ Pressure to sign quickly
• ☐ Large unexplained fees
• ☐ Adjustable rate not understood
• ☐ Lender avoids questions

Before Preapproval

• ☐ Credit reports reviewed
• ☐ High card balances reviewed
• ☐ Recent applications checked
• ☐ Income documents gathered
• ☐ Bank statements gathered
• ☐ Safe payment range chosen
• ☐ Down payment estimate checked
• ☐ Closing cost estimate checked

Before Making an Offer

• ☐ Property taxes checked
• ☐ Insurance estimate requested
• ☐ HOA fees checked
• ☐ Utility costs estimated
• ☐ Inspection budget ready
• ☐ Repair risk considered
• ☐ Commute cost considered
• ☐ Payment still feels safe

Closing Disclosure Review

• ☐ Loan amount checked
• ☐ Interest rate checked
• ☐ Monthly payment checked
• ☐ Cash to close checked
• ☐ Closing costs checked
• ☐ Escrow items checked
• ☐ Prepayment penalty checked
• ☐ Ask about anything unclear

After Closing Budget

• ☐ First payment date saved
• ☐ Emergency fund still exists
• ☐ Utility setup budgeted
• ☐ Moving costs budgeted
• ☐ Repairs budgeted
• ☐ Furniture spending controlled
• ☐ No new debt planned
• ☐ Monthly budget updated