We will request documents only after you have (1) received a Loan Estimate and a Home Loan Toolkit, and (2) you have provided us with your verbal or written "intent to proceed" with the mortgage application. Before receiving the requested documents we may ask you to provide us with Information that will help us to evaluate your potential application for a mortgage loan.
The following documents may be requested to obtain a new mortgage loan:
For any mortgage transaction:
- Past two (2) years W-2 statements
- Pay Stubs covering the last (30) thirty days
- Two most recent monthly bank statements
- Most recent transaction summary of 401K, IRA, or Mutual Fund Accounts
- Photocopies of any stocks or certificates of deposits
- A letter of explanation for any known credit problems
- If you are currently renting….either 12 months canceled rent checks or the name and address of your current landlord
The following documentation may be requested for the specific loan transaction type:
For a Purchase Loan:
- A signed purchase contract
- A copy of earnest money
- Realtor contact information
- Condo Association contact information.
For a Refinance Loan:
- A copy of the deed
- A copy of most recent tax bill
- A copy of HOA bill
- A copy of Hazard Insurance bill
- A copy of Flood Insurance bill
- A copy of any bill to be payoff with the new mortgage
- (for instance:
- existing mortgage bill,
- credit card bill,
- student loan bill,
- auto loan bill, etc.)
For a VA Loan:
...additional items, if you are divorced:
...additional items, if you are self employed:
1099 self employed, employed in sales, paid by commission, or own rental real estate:
- Two (2) years signed personal tax returns - including all schedules
- If self-employed through a corporation, last two years corporate returns as well as a year-to-date profit and loss statement and balance sheet
...additional items, if you are an investor:
a DSCR analysis will be required for the property (NOI = income minus expenses), plus all documents on the property itself:
- Copy of Current Lease Agreement (signed by tenant)
- Copy of property's Deed
- Copy of property's Taxes bill
- Copy of property's Hazard Insurance coverage
- Copy of property's Flood Insurance coverage
- Copy of property's Renter Insurance coverage
- Copy of property's Condo Association bill
if property's title is held on a corporation or on a llc, we require all documents on the corporation itself:
- Copy of corporate's records from the Dept. of State
- copy of corporate's operating agreement
- copy of corporate's resolution (authority to bind)
- Copy of corporate's Operating Bank Statement
Note: different loan programs require varying amounts of documentation. The loan program you select may require more or less documentation (...this is a partial list). Please contact us for a free, no-obligation consultation or any explanation of what is been requested form you.
