Traditional loans usually require documents that verify your employment, income and assets. However, low-documentation options may also be available for some homebuyers. Some documents you may need when applying for a traditional mortgage loan include:

Ø       Your Social Security number

Ø       Pay stubs for the last two months

Ø       W-2 forms for the past two years

Ø       Bank statements for the past two or three months

Ø       One to two years of federal tax returns

Ø       A signed contract of sale (if you've already chosen your new home)

Ø       Information on current debt, including car loans, student loans and credit cards