VIEWING: Mortgage

Mortgage Application Checklist

Pulling everything together that you need for a mortgage application can be overwhelming. Use this checklist to stay organized and to navigate through the process of applying for a mortgage.

Identity and Income Verification


    Full legal name, Social Security Number, and birthdate of individual(s) who are applying for a mortgage.


    Phone number, email address, and current and former residential mailing addresses over the last two years of individual(s) applying for the mortgage.


    Primary and secondary income amounts and sources for individual(s) applying for a mortgage.


Government-issued photo ID (ex: drivers license, passport, etc.) and Social Security Card of individual(s) applying for a mortgage.


Name, addresses, and phone numbers of all employers over the last two years of individual(s) applying for a mortgage.


Values of bank (checking and/or savings), retirement, investment, and other asset accounts of individual(s) applying for a mortgage.


Monthly debt obligations (ex: car note, personal loan, credit card payment) of individual(s) applying for a mortgage.


Address of property being purchased, year built, estimated down-payment amount, and purchase price. 


Estimates of annual taxes, homeowners insurance, and any homeowner association dues.

Income Verification - Self-employed


Federal Tax Returns (personal and business) for the past two years of individual(s) applying for a mortgage.


Profit and Loss Statement (year-to-date) of individual(s) applying for a mortgage.

Income/Tax Documents


IRS Form 4506-T - Request for tax transcript, completed, signed and dated.


Pay Stubs covering the last 30 days from the individual(s) applying for a mortgage.


W-2s for the past two years from the individual(s) applying for a mortgage.


Federal Tax Returns (1040s) for the past two years from the individual(s) applying for a mortgage.


Asset/Bank Statements - Most recent two months' statements for all accounts listed on the application (include all pages of the statement, even blank pages) from the individual(s) applying for a mortgage.


Written Explanation if employed less than two years or employment gap exists within the last two years from the individual(s) applying for the mortgage.

Credit Verification


Credit Explanation Letter for late payments, collections, judgements, or other derogatory items in credit history for the individual(s) applying for a mortgage.


Source of Funds documentation for any large deposits on asset or bank statements from the individual(s) applying for a mortgage.


Judicial Decree or Court Order for each obligation due to legal action (if applicable) for the individual(s) applying for a mortgage.


Bankruptcy/Discharge Papers for any bankruptcies in credit history (if applicable) for the individual(s) applying for a mortgage. 

Other


Homeowners Insurance information, including agent's name and phone number


Purchase Contracts signed by all parties

Find a Location

Relevant FAQs

Can I access my mortgage loan online?

What is the cut off time to make a mortgage payment online?

Can I make a payment to my loan I have with BancorpSouth?

More FAQs

You are leaving www.bancorpsouth.com

You have clicked on a link to a third-party website and are leaving the BancorpSouth website. BancorpSouth does not control third-party web sites or the information, products and services offered there. BancorpSouth provides links to such sites only as a convenience and is not responsible for the privacy or security of any third-party website. We encourage you to review the privacy policy and security offered on the third-party website prior to providing any personal information.

× ProceedCancel