HELPFUL INFORMATION TO GATHER FOR A MORTGAGE LOAN
Below is a list of items that may be requested after a loan estimate has been accepted
by an applicant and the applicant has given their intent to proceed with the loan.
These items are NOT required in order to apply for a mortgage loan.
INCOME VERIFICATION
- W-2's - 2 most recent years for each borrower
- Current Paystubs - 2 most recent for each borrower
- Tax Returns - 2 most recent years for all self-employed income (with all schedules) - only if self employed
- Child Support / Alimony Income (if you wish to include this income) - must be court ordered and receiving for last 3 months accompanied by age of children
- Social Security Award Letter / Pension Award Letter
- Copy of 2 years S Corp. Partnership or Corporation tax returns with K1's and individual tax returns
PROPERTY INFORMATION
- Copy of Deed with Legal Description
- Purchase and Sale Agreement
- Property Tax Bill
- Property Insurance Information
- All Estimates which add up to loan amount (for construction loans)
ASSETS & CREDIT INFORMATION
- 2 Month's bank statements or online printouts (must include bank name & your account number)
- 2 Month's investment statements (stocks, bonds, mutual funds, 401K statements)
- Explanations of any large deposits and proof of source (copy of deposit) ** if applicable
- Gift Letter (if applicable) for any funds coming as a gift
- Refinances: copy of all statement of accounts being paid off, refinance or consolidated
- Bankruptcy papers (if applicable)
- Divorce Decree (if applicable)