What you'll need to get the process rolling:

• Contact information for each borrower
• Historical address information (two years)
• Employment history (two years)
• Copies of last two years of W-2's and/or 1099's
• Most current statements for all asset accounts (including numbers/balances)
• List of monthly credit payments (creditor, account number, balance and payment)
• Copy of most recent pay stubs for each borrower
• Copy of most recent mortgage statement
• Purchase agreement (if applicable)
• Payment for credit report and appraisal fees

Other information you may need:

• Divorce decree and/or bankruptcy papers (if applicable)
• Student transcripts
• If self-employed or commission-based, two years of income tax returns