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Organize documents
Organize documents | Halfdark/Getty Images

Organize documents

When applying for mortgages, you must document income and taxes.

Typically, mortgage lenders will request two recent pay stubs, the previous two years' W-2s, tax returns and the past two months of bank statements -- every page, even the blank ones.

"Why it has to be every single last page, I don't know. But that is what they want to see. I think they look for nonsufficient funds or odd money in or out," says Floyd Walters, owner of BWA Mortgage in La Canada Flintridge, California.

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