What docs do you need for a mortgage?

When you set out to buy property, there are 3 common ways to get started with a lender:

1. Pre-Qualification: This is the least thorough check of your finances. Most of the info is simply from the buyer's word. Since the 2008 mortgage crisis this is becoming a less and less viable option. Lenders want proof!

2. Pre-Approval: This is the most common approval "level" for buyers. A pre-approval actually needs (some) documents to support your pre-approval status.

3. Loan Commitment: This is when your financial information gets analyzed and approved by an underwriter. You actually get a commitment for a loan amount based on your full financial profile.

A Loan Commitment is the gold standard these days if you are obtaining a mortgage, as it takes away any fear from the seller about you being able to fully qualify for a loan.

But what documents do you actually need? Here's a helpful info-graphic via HouseHunt that breaks it all down.

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