Loan Documents Needed from Borrowers

The following items are needed to submit the loan to underwriting:

For All Applicants

• Copy of Driver’s License and Social Security Card

• Last sixty (60) days of Asset Statements being used for qualification.  

• Checking, Savings, 401-K Statements

• Large non-payroll deposits (greater than 2% of the sales price) must be explained and possibly sourced

• Copy of cleared Earnest Money Check

• Cash is not allowed to be used towards the purchase of the home

• Your street address, or addresses for the last two (2) years

• If you rent, your landlord’s name, address and phone number

• If you own, a copy of your mortgage statement.  If you do not have a mortgage on your home, a copy of your home owner’s insurance and property taxes.

• If you own rental property, a copy of the mortgage statement.   If you do not have a mortgage on your home, a copy of your home owner’s insurance and property taxes.

• Previous two (2) years tax returns, including all schedules, all pages

W-2 Paid Employment

• Employment Information for all employers for the past two (2) years

• Previous two (2) years W-2 statements

• Name, phone number and contact information for Human Resources or Payroll Department

• Last thirty (30) days of paystubs

Self Employed

• More than 25% owner, 2 years business tax returns, all schedules, all pages

• More than 25% owner, 2 months of business bank statements, all pages

• Less than 25% owner, K-1

• YTD Profit and Loss Statement

• Last two (2) years of 1099’s

If Retired

• Social Security Awards Letter

• Retirement Awards Letter

• Most recent two (2) years 1099’s

If Applicable

• Divorce Decree, Marital Dissolution, Parenting Plan (which spells out Child Support/Custody Agreement)

• Military Discharge Papers (DD214)

• Bankruptcy papers and Discharge Letter, all pages

The above items are for the underwriter’s conditional approval.  Further documentation may be required.