Documents Needed For Loan Applications

ALL BORROWERS:

  • Copies of W-2’s for the last two years.
  • Copies of paycheck stubs for the last 30 days (most current).
  • Copies of checking and saving account statements for last three months (all pages).
  • Copy of sales contract when ratified.
  • Employment history for the last two years (address any gaps of employment).
  • Residency history over the last two years: include name, phone number, address, and account number of Landlord or Mortgage Company. Rental property copies of leases plus mortgage information.
  • Cancelled earnest money check (when it clears) or corresponding bank statement, if applicable.
  • Any assets used for down payment and cash reserves must be documented by a paper trail.
  • Copy of drivers license for applicant and co-applicant.
  • Homeowners Insurance policy declarations page.

SELF-EMPLOYED BORROWERS:

  • Copies of most recent 2 years tax returns (with all schedules including K1’s if applicable).
  • Copy of current profit & loss statement and balance sheet.
  • Copy of corporate/partnership tax returns for most recent 2 year period if owning 25% or more of company — copies of W-2’s and/or 1099 forms.

DOCUMENTS WHICH MAY BE REQUIRED:

  • Previous bankruptcy? Include copies of petition for bankruptcy and discharge, including supporting schedules.
  • Divorce Decree, if applicable.
  • Documentation supporting monies received from social security/retirement trust income. (i.e. copies of direct deposit bank statements, awards letter, and evidence income will continue.)
  • Signed gift letter for gift funds if used as down payment.

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