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Loan Documents

When you go through the loan process there will be certain documents needed through the course of the mortgage loan in order to enable our loan officers to quickly and decisively get you the money you need. Below are a few of the documents that you may be asked for dependent on the loan or your current situation.

Income Items
A list of items that you may be asked for to prove your current income.
  Federal tax returns (1040's) for the last two years, if:
       • You are self-employed or earn more than 25% of your income
         from commissions or bonuses
      • You own rental, or "income" property
      • In a career where you are likely to take non-reimbursed
         business expenses

  •  Year-to-Date Profit and Loss Statement (for self employed)

  •  Corporate or Partnership tax returns (if applicable)

  •  Pension Award letter (for retired individuals)

  •  Social Security Award letters (for those on Social Security)

  •  Most recent 30 day pays stubs.
      Regular Loans

  •  Credit report

  •  Name, address, and all income earned from all employers for the
      past two years

  •  List of employers for the past 2 years.

  •  List of assets include address, type of account, account
      numbers, balances.

  •  Homeowners Insurance Information (name and phone number of

  •  Last 2 years’ W-2 forms.

  •  Last three months bank statements (all pages of statements).

  •  Current mortgage company name, address, phone numbers and
      account numbers (Purchase n/a)

  •  Copy of Driver's License or photo ID and social security number.

  •  List of all open credit accounts:
       • Charge accounts
       • Car loans (include account numbers, payment amounts, and

Asset Items

  •  Statements for two months on all stocks, mutual funds, bonds.

  •  Checking or savings information.

  •  Copy of latest 401K statement (or other retirement assets)

  •  Explanations for any large deposits and source of those funds

  •  Copy of HUD1 Settlement Statement on recent sales of homes
      (see glossary for HUD1)

  •  Copy of Estimated HUD1 Settlement Statement if a previous
      home is for sale,but not yet closed

Credit Items

  •  Landlord's name, address, and phone number (for verification of
      rental, if you currently rent)

  •  Explanations for any of the following items which may appear on
      your credit report:
       • Late payments
       • Credit inquiries in the last 90 days
       • Charge-offs
       • Collections
       • Judgments
       • Liens

  •  Copy of bankruptcy papers if a bankruptcy shows up on your
      credit report or if you have filed bankruptcy within the last seven

VA Loans

  •  Copy of DD214 - If you were in the military, you undoubtedly
      know what this is because when you get out of the service they
      constantly remind you to never ever lose this form. o For those
      that were not in the military, it is basically a one-page
      summary of an entire military career, including test scores,
      important dates, awards, and other military data.
2nd Mortgages / Home Equity Loans

  •  Copy of your first mortgage note

  •  Address of properties and current market value.

  •  Any debt owed on properties; Lender's name, address, account
      number, monthly payment, and current balance.

  •  Copy of previous two years Federal Income Tax Returns with all

  •  If rented, copy of lease.

  •  Copy of current Property Deed

  •  Copy of Homeowner’s Insurance declaration page(s)

Self Employed/Commissioned Pay

  •  Previous two years Federal Income Tax Returns with all schedules
      and a year-to-date profit and loss statement.

Other Miscellaneous

  •  Copy of purchase agreement (if you have already made an offer)

  •  Document receipt of child support (if you desire to show it as

  •  Copy of divorce settlement (to show the amount)

  •  Gift letter (if some of the funds come as a gift from a family

  •  If you have filed bankruptcy within the last seven years, Copy of
      petition and discharge and a handwritten explanation of reason
      for bankruptcy.



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