Debts

• The primary mortgage documents may only have space for joint applicants to list less than a dozen unpaid debts. An overflow sheet may be used to include the excess debtors, and is typically placed behind the related page of the mortgage application. The lender will compare this list to a credit report to verify that all pertinent details have been included. The lender typically requires the name of the creditor, the name of the applicant who is responsible for the debt, the amount of the debt and the contact information of the creditor.
  
  

Real Estate Owned

• Whether you fill out a mortgage application for a family home or to purchase investment property, you will need to provide the details of each property owned, including the lender, the loan amount, the address and the monthly mortgage payment. If you are a landlord with numerous holdings, you may fill up more than one overflow sheet with the information. The lender may also require other real estate-related information, such as where you live now and if the property is leased, owned or under a mortgage.
  
  

Assets

• Prolific investors may find a need for an overflow sheet to list all assets, including bank accounts, mutual fund accounts, stock and bond holdings, and retirement accounts. Along with the overflow sheet, the lender will require current statements from each financial institution to verify that the amount of each of the assets is reasonable. The higher your assets and the lower your liabilities, the higher the mortgage you qualify for, so be sure to include all the assets in your portfolio.
  
  

Electronic

• Filling out an application electronically my greatly reduce the need for overflow pages, since many electronic forms are designed to add additional lines within the primary document as needed. Mistakes happen, though, so print out the application and double-check that every item you entered has printed out correctly. Failure to fully disclose your financial position may mean the difference between buying a new home and trying to re-qualify again in a few months.