Mortgage Help   Mortgage Rates Real Estate Credit Foreclosure Tax Mortgage Rates  Mortgage Basics Chapter 1: How much house can you afford? Homeownership Should You Buy or Rent Summary   Chapter 2: Adjustable-rate mortgages ARM and a fixed-rate mortgage Fixed-rate mortgages Understanding the key elements Which type of lender is right for you? Other types of mortgages Subprime Summary   Chapter 3: Your credit score Down Payment How lenders set rates Low down payments Mortgage insurance Your mortgage payment Mortgage Points Summary   Chapter 4: The good faith estimate Inspection and Insurance Necessary paperwork for a buyer Other lender paperwork Paperwork and fees Prequalification and preapproval Special circumstances Summary   Chapter 5: Ten questions to ask Turned down for a mortgage Underwriting What lenders ask Summary   Chapter 6:  Understanding the closing process Escrow Summary   Chapter 7: When your mortgage is sold Avoiding foreclosure Paying ahead Payment changes Refinancing Removing mortgage insurance Summary Necessary paperwork for a buyer There is a lot of paperwork you will need to gather in order to secure a mortgage. Lenders need to have proof of your assets, your income, the quality of your credit and other important financial information. You can save time by gathering the documents you will need in advance of visiting the lender. By being prepared, you are showing the lender that you are organized, able to manage your finances and serious about purchasing a home. You will need the following information and paperwork to apply for a mortgage: " The last two years of federal tax returns and W-2 forms " Two recent pay stubs showing your name, Social Security number, name and address of your employer, your year-to-date earnings and base salary. " Proof of other income, such as a second job, overtime, commissions or bonuses, rental income, child support, alimony, Social Security or other benefit disbursements. " A list of all of your creditors, including credit cards, student loans, auto loans, child support and alimony. You will need the account numbers, names and addresses, minimum monthly payment amounts and total balances. " Investment records, such as mutual fund statements, real estate and auto licenses, stock certificates and other investment or asset documentation. " Canceled checks showing mortgage or rent payments for the last year. " Home sales contract that includes the purchase price, property description and closing date. Not all lenders will require all of the above paperwork and some may require more. Borrowers with very strong credit scores may not need to provide any of it. But by having it ready, you will save valuable time during the application process.