Document Checklist for your Mortgage

 

YOUR PROPERTY

  • Copy of signed sales contract.
  • Verification of the deposit placed on the home.
  • Names, addresses, and phone numbers of all parties involved. i.e. REALTORS®, Title Agencies, Attorneys, etc.
  • Copy of MLS ticket and legal description if available.
  • Provide Condominium Declaration by-laws and most recent budget.

YOUR INCOME

  • Copies of your pay-stubs for the past 30 days.
  • Bank statement for past three months.
  • Copies of W-2 forms for past two years.
  • Copies of  tax returns for past two years.
  • Name and contact info for all employers within the past two years.
  • Letter explaining any gaps in employment within the past two years.
  • Work visa or green card front and back (if applicable.)

If you are self-employed:

  • Full tax returns for past two years. Please provide complete tax return including schedules, statements, and any extensions (if needed to be filed.)
  • Year-to-date profit and loss statement.
  • K-1 for all partnerships and S-Corps for the past two years. Note: Most K-1 forms are not attached to the 1040 tax form.
  • Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns.

ALIMONY OR CHILD SUPPORT TO QUALIFY

  • Provide divorce decree/court order, stating amount and proof of receipt of funds for the past year.

SOCIAL SECURITY INCOME – DISABILITY/VA BENEFITS

  • Provide award letter from Government agency/organization.

SOURCE OF FUNDS AND DOWN PAYMENT

  • Sale of your existing home – provide a copy of the signed sales contract.
  • Bank statement and money market funds for the past three months.
  • Stocks and Bonds – provide copies of the statement from the broker or copies of certificates.
  • Gifts – If part of your cash-to-close, provide a gift letter and proof of funds.
  • Based on info appearing on the application and/or credit report, additional documentation may be required.

DEBT OR OBLIGATIONS

  • List of names, addresses, account numbers, balances, and monthly payments for all current debts within the past three months.
  • Include names, addresses, account numbers, balances, and monthly payments for mortgage holders/landlords for the past two years.
  • Check to cover application fee(s).


 

 

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