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)