The following is a list of the documents that will be requested at the beginning of the loan process. Please be aware that additional documentation may be required dependent on your unique circumstances.
For Credit Approval:
Most recent two years tax returns, federal only, all pages as well as any W-2s, 1099s, or K-1s. If you are self-employed (own 25% or greater) and file corporate tax returns, please provide a copy of the last two years. If you have filed for an extension for this year, please provide a copy of the filed extension and your two prior year's returns. Please be sure these are signed where applicable (p2 on personal; p1 on business.)
Thirty days most recent pay stubs for all current employers.
We require a two year employment history - if there are any gaps in your employment, a letter of explanation will be needed.
Most recent available asset statements (checking, savings, brokerage accounts, money markets, etc.) covering at least a two-month period. Please provide all pages even if blank or a reconciliation page.
If you have a retirement account (IRA & 401(k)), we will require the most recent statement, all pages. Please provide the terms under which funds to be used at closing can be withdrawn.
Driver's license copy for all borrowers (a scanned copy or enlarged photocopy works best for legibility purposes).
Name and phone number of the insurance company you have selected to insure the property.
Fully executed contract with all exhibits and addendums for all parties.
Copy of earnest money check and proof the funds cleared your account.
Your current landlord/property management company's contact information. If you rent from an individual, then 12 months of cancelled rent checks may be requested.
If you are divorced or separated, a copy of your recorded divorce decree and legal separation agreement may be necessary to document any spousal support.
Copy of a child support order - all pages.
Contract on the house you are selling.
If you have filed bankruptcy in the last 7 years, we will require a copy of your filing and discharge papers in their entirety.
Copy of current mortgage statement for all properties currently owned (including residence, lot or business property) as well as a copy of your tax bill, HOA/condo dues and insurance premium.
Additional identification may be required for permanent resident, alien or non-permanent residents. (i.e. visa, green card, etc.)
Additional documents will be required for condo purchases.
If self-employed, copy of most recent profit and loss statements.