Documents Needed for Loan Applications

ALL BORROWERS:

• 1. Copies of W-2’s for the last two years;
• 2. Copies of paycheck stubs for the last 30 days (most current);
• 3. Copies of checking and saving account statements for last three months (all pages);
• 4. Copies of quarterly or semi-annual statements for checking, savings, IRA’s, CD’s, money market fund, stock, 401k, profit sharing, etc.;
• 5. Copy of sales contract when ratified;
• 6. Employment history for the last two years (address any gaps of employment);
• 7. Residency history over the last two years, with name, phone number, address and account number of Land or Mortgage Company. Rental property copies of leases plus mortgage information.
• 8. Canceled earnest money check when it clears or corresponding bank statement, if applicable;
• 9. Commissioned or bonused income -- if 25% or more of base, must have tax returns;
• 10. Check for the expense of appraisal & credit report;
• 11. Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
• 12. Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
• 13. If paid off mortgage in the last 2 years, need copies of HUD1;
• 14. Copy of drivers license for applicant and co-applicant.

SELF-EMPLOYED BORROWERS:

• 1. Copies of most recent 2 years tax returns (with all schedules including k-I’s if applicable);
• 2. Copy of current profit & loss statement and balance sheet;
• 3. Copy of corporate/partnership tax returns for most recent 2 year period if owning 25% or more of company -- copies of W-2’s and/or 1099 forms.

DOCUMENTS WHICH MAY BE REQUIRED:

• 1. Relocation Agreement if move is financed by employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
• 2. Previous bankruptcy, need copies of petition for bankruptcy and discharge, including supporting schedules;
• 3. Divorce Decree if applicable;
• 4. Documentation supporting moneys received from social security/retirement trust income, i.e. copies of direct deposit bank statements, awards letter, evidence income will continue.

DOCUMENTS NEEDED FOR FHA/VA LOANS:

• 1. FHA: Copy of social security card and drivers license for each applicant and co-applicants;
• 2. VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper;
• 3. VA: Name and address of nearest living relative