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Mortgage Checklist

Mortgage Center

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Below is a checklist of items you will need to include when you apply for a mortgage. You can print this page out or download the Acrobat pdf file – Mortgage Checklist. If you have any questions or need further information, please call the mortgage department directly at 440.632.1666, toll-free at 888.801.1666 or use the contact us form.

Personal and Employment Information
If self-employed, corporate or commissioned income: tax returns and all attached schedules for two years (corporate schedules if applicable) and corporate tax returns for two years
Two consecutive pay stubs for most recent earnings, including year-to-date earnings
W-2 forms for most recent year
If using alimony/child support income, copy of divorce decree, financial stipulation and proof of income for three consecutive months
If self employed, YTD income statement and current balance sheet dated within 120 days of closing
If a student within the last two years, provide your last two transcripts
Social Security and pension award letters
General authorization form
Be prepared to provide written explanation of gaps in employment record or relocation letter
Credit and Liability Information
Name, address and account numbers of creditors along with current balance and monthly payments of all outstanding loans (including credit cards)
Copies of statements of any debt which you are planning to pay off
Written credit explanation of any current or previous credit problems (if applicable)
Information on any loans you have co-signed, or other obligations
Divorce decree and stipulations to verify debt obligations (if applicable)
Bankruptcy discharge and schedule of debts (if applicable)
Other Information
If the property is a condominium, please have a set of the “condominium documents,” current operating budget, minutes from last two association meetings, name and telephone number of management company and any other pertinent information
A construction loan requires one complete set of plans (not larger than 8-1/2” x 14”), specifications, a list of building materials and builder pre-approval
Assets and Property Information
Three recent month’s bank statement on all open checking and savings accounts; please provide all pages (The Middlefield Banking Company accounts do not need to be provided)
Verification of any liquid assets, such as stocks, bonds, mutual funds, IRAs, 401k plans, etc., and copies of most recent statement
Vehicle description and value
Information on any other real estate being sold, such as a copy of sales agreement
Information on property to be retained (i.e., rental property), such as taxes, insurance and/or condo fees; include proof of rental income (i.e., tax returns)
Property Being Purchased/Refinanced
Copy of existing deed
Real estate tax bill
Written refinancing reason
Verification of earnest money deposit
Sales contract and listing sheet (applicable to purchase transactions only)
Copy of homeowners insurance bill (applicable to refinance transactions only)
Name and address of existing mortgage lender (applicable to refinance transaction only)
Fees at Application
Pre-approval at The Middlefield Banking Company is FREE!
$325 for the cost of the appraisal and $57 for factual credit report ($550 if applying for a conventional mortgage on a 2- to 4- unit property)
All fees are credited toward closing costs
Certified funds to close
Pre-paid insurance binder (covering 12 months)
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