What is Needed For Loan Application

Organize Your Documents 

Salaried Borrowers:

•  Pay Stubs for all borrowers for the last 30 days.
•  W-2 Forms for all employment for all borrowers (for the previous 2 years)

Self-Employed Borrowers:

•  Personal & Business Federal Tax Returns (for the last 2 years with all schedules).
•    1099s if applicable.

If you own more than 25% of a business:

•  Corporate or Partnership Federal Tax Returns (for the last 2 years with all schedules)

If you receive Rental Income:

•  Copies of current Rental Agreement, fully executed.

If you receive Pension Income:

•  Pension award letter  along with a recent check stub or copy of a   bank statement if the funds are deposited electronically through direct deposit.
•  2 years of 1099s.

If you receive Social Security and/or Disability Income:

•  Provide a copy of your award letter along with a recent check stub or copy of a   bank statement if the funds are deposited electronically through direct deposit.
•  2 years of 1099s.

If you are Refinancing:

•  Copy of your all Mortgage Statements if there are liens to be paid off.
•  Copy of your most recent Homeowner’s Insurance bill.

Asset verification:

•  Copy of the past 2 months statements on the following accounts:
•  Checking, Savings, Mutual Funds, Stock, Bond, Life Insurance, Money Market and Retirement (all pages)

If you have made any large deposits to your accounts within the last 60 days:

•  Source of deposit and explanation letter.
•  Copy of deposit receipt.
•  If the deposit was a gift, include a signed gift letter

If you are Buying a home:

•  Purchase agreement signed by all parties.
•  Copy of Cancelled Earnest Money Check

For VA loans:

•  Copy of DD214 form (aka separation papers)

Miscellaneous:

•  Copy of Driver License for all borrowers.
•  Copy of Social Security Cards for all borrowers.
•  If you were a full-time student during the last 2 years, a copy of your diploma or transcripts.
•  Written explanation of credit variance, including: late payments, credit inquiries within the last 90 days, charge-offs, collections, judgments and/or liens.
•  If applicable, 12 months of cancelled alimony checks.
•  If applicable, 12 months of cancelled child support checks. Copy of court order and Birth Certificate of children.
•  If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us documents to show your residency and Visa status in the United States.

Please remember that additional documentation may be required, depending upon your specific situation. Do NOT pack any of your important documents. It is normal for lenders to request additional documentation, so keep your important documents handy and please be patient throughout the mortgage application process