Documents Needed for Loan Applications

ALL BORROWERS:

•  Copies of W-2’s for the last two years;
•  Copies of paycheck stubs for the last 30 days (most current);
•  Copies of checking and saving account statements for last three months (all pages);
•  Copies of quarterly or semi-annual statements for checking, savings, IRA’s, CD’s, money market fund, stock, 401k, profit sharing, etc.;
•  Copy of sales contract when ratified;
•  Employment history for the last two years (address any gaps of employment);
•  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.
•  Canceled earnest money check when it clears or corresponding bank statement, if applicable;
•  Commissioned or bonused income -- if 25% or more of base, must have tax returns;
•  Check for the expense of appraisal & credit report;
•  Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
•  Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
•  If paid off mortgage in the last 2 years, need copies of HUD1;
•  Copy of drivers license for applicant and co-applicant.
•  Copies of your most recent 2 years tax returns
•  Copy of social security card for each applicant and co-applicant

SELF-EMPLOYED BORROWERS:

•  Copies of most recent 2 years tax returns (with all schedules including k-I's if applicable);
•  Copy of current profit & loss statement and balance sheet;
•  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:

•  Relocation Agreement if move is financed by employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
•  Previous bankruptcy, need copies of petition for bankruptcy and discharge, including supporting schedules;
•  Divorce Decree if applicable;
•  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:

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