The Brooklyn Buyer’s Mortgage Checklist: 6 Documents You Need Before You Apply

By Peter Mancini, Pen Realty | REBNY & BNYMLS Member

In Brooklyn’s competitive real estate market, having your mortgage documents ready isn't just smart — it’s essential.

Whether you're eyeing a classic brownstone in Park Slope or a modern co-op in Prospect Heights, being well-prepared can mean the difference between landing your dream home or losing it to a faster buyer. At Pen Realty, we guide you through every detail — and today, we’re breaking down the six key documents you’ll need before applying for a mortgage.

Let’s walk through this step by step — so you can get ahead, stay confident, and close with ease.

1. Proof of Income: Show What You Earn

Lenders want to see stability and consistency in your income.

Most commonly, this includes:

• W-2 forms (past 2 years)

• Most recent pay stubs (last 30 days)

• Federal tax returns (especially for self-employed buyers)

If you’re a freelancer, consultant, or small business owner, be prepared with profit and loss statements and business tax returns. Transparency is key — and when in doubt, a letter of explanation for any irregularities goes a long way.

2. Proof of Employment: Confirm Your Current Work Status

Income is one thing — but lenders also verify that you’re currently employed.

Expect to provide:

• Contact info for your employer

• A recent offer letter (if you’ve just switched jobs)

• Verification from HR (many lenders make this call)

If you’re self-employed, showing a steady stream of work is vital. Lenders will often ask for two years of tax returns, but sometimes just one year is enough if your income is rising and consistent.

3. Bank Statements + Asset Verification: Show What You Have

Here’s where lenders take a look at what’s in the bank — and where your down payment and closing costs are coming from.

You'll want to provide:

• 2–3 months of full bank statements (no redacted info!)

• Statements from brokerage or retirement accounts (if applicable)

• Gift letter (if you're receiving funds from a family member)

Large, unexplained deposits? That can raise flags. Lenders want clear paper trails — so document everything and keep transfers clean.

4. Credit + Debt Info: Know What You Owe

Your credit score will be pulled automatically, but lenders also want the full picture.

Be ready to explain:

• Car loans, student loans, credit cards

• Co-signed accounts

• Recent credit inquiries or large purchases

This isn’t about being perfect — it’s about being prepared. Even buyers with great credit can benefit from a letter explaining unusual activity.

5. Identification Documents: Prove Who You Are

No surprises here — lenders must verify your identity.

Prepare copies of:

• A government-issued ID (driver’s license or passport)

• Your Social Security card or number

• Visa or Green Card (if you're not a U.S. citizen)

Pro tip: Make sure everything is current. Expired documents can delay the entire process.

6. Special Situations: Add Your Extra Paperwork

If your life circumstances are more complex, your mortgage application might need a little more detail.

This includes:

• Divorce: Bring your divorce decree and child/spousal support documentation

• Rental income: Include lease agreements or proof of consistent rental payments

• Assistance programs: Share letters from housing organizations

• Credit issues or income gaps: A brief written explanation can help avoid unnecessary denials

At Pen Realty, we help our clients package this info clearly — so lenders can move quickly and confidently.

💡 Why This Matters in Brooklyn

In neighborhoods like Carroll Gardens, Windsor Terrace, and Kensington, properties often go under contract in days — not weeks. Buyers who walk in pre-approved and prepared gain a powerful advantage.

If you’re working with Pen Realty, we don’t just help you find the right home — we help you win it.

Want a personal consultation? Visit penrealty.net to get started with a Brooklyn real estate expert who cares.

💙 Give Back While You Move Forward

Peter Mancini and Pen Realty proudly support CaringKind NYC, an organization dedicated to dementia care and family support in New York. This cause is personal — and we invite you to join us in making a difference.

👉 Donate to CaringKind NYC here

🎥 Watch the Vlog Series

Prefer video? You can follow this entire checklist as a 6-part YouTube series — perfect for first-time buyers, seasoned investors, or anyone applying for a mortgage in NYC.
📺 Coming soon to the Pen Realty YouTube Channel

Ready to Buy in Brooklyn?

Peter Mancini is here to deliver A Signature Experience — rooted in responsiveness, integrity, and expert-level real estate guidance.

Let’s make your Brooklyn move a smart one.
Visit penrealty.net today.