Loan Documentation Requirements - Application Checklist
In this section, you will find answers to the most frequent questions we receive about loan documentation requirements for when you submit your application.
If you have a question we do not address, please ask us
directly! Please check our Mortgage
Terms Glossary for commonly used mortgage terminology.
Below is a list of documents that are required when you apply for a mortgage.
However, every situation is unique and you may be required to provide additional
documentation. So, if you are asked for more information, the sooner you provide the information requested, the better. It will help speed up
the application process.
- Copy of signed sales contract including all riders
- Verification of the deposit you placed on the home
- Names, addresses and telephone numbers of all realtors, builders, insurance
agents and attorneys involved
- Copy of Listing Sheet and legal description if available (if the property
is a condominium please provide condominium declaration, by-laws and most
recent budget)
- Copies of your pay-stubs for the most recent 30-day period and year-to-date
- Copies of your W-2 forms for the past two years
- Names and addresses of all employers for the last two years
- Letter explaining any gaps in employment in the past 2 years
- Work visa or green card (copy front & back)
If self-employed or receive commission or bonus, interest/dividends, or rental
income:
- Provide full tax returns for the last two years PLUS year-to-date Profit
and Loss statement (please provide complete tax return including attached
schedules and statements. If you have filed an extension, please supply a
copy of the extension.)
- K-1's for all partnerships and S-Corporations for the last two years (please
double-check your return. Most K-1's are not attached to the 1040.)
- Completed and signed Federal Partnership (1065) and/or Corporate Income
Tax Returns (1120) including all schedules, statements and addenda for the
last two years. (Required only if your ownership position is 25% or greater.)
If you will use Alimony or Child Support to qualify:
- Provide divorce decree/court order stating amount, as well as, proof of
receipt of funds for last year
If you receive Social Security income, Disability or VA benefits:
- Provide award letter from agency or organization
- Sale of your existing home - provide a copy of the signed sales contract
on your current residence and statement or listing agreement if unsold (at
closing, you must also provide a settlement/Closing Statement)
- Savings, checking or money market funds - provide copies of bank statements
for the last 3 months
- Stocks and bonds - provide copies of your statement from your broker or
copies of certificates
- Gifts - If part of your cash to close, provide Gift Affidavit and proof
of receipt of funds
- Based on information appearing on your application and/or your credit report,
you may be required to submit additional documentation
- Prepare a list of all names, addresses, account numbers, balances, and monthly
payments for all current debts with copies of the last three monthly statements
- Include all names, addresses, account numbers, balances, and monthly payments
for mortgage holders and/or landlords for the last two years
- If you are paying alimony or child support, include marital settlement/court
order stating the terms of the obligation
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