Mortgage Documentation Requirements
 

Income Documentation

• Last 2 years W2 forms.
• Last 2 pay stubs (covering 1 month).
• Last two years signed 1040s, all schedules if 25% or more of your income is from self employment, overtime, commissions, or employment by a relative.
• Last 2 years business tax returns if you own 25% or more of a business.
• Current business income statement.
• Proof of Social Security, pension, or disability income.

Asset Information

• Last 2 months bank statements - all pages.
• Last quarter investment or trust accounts
• Copies of stocks, bonds, or US savings bonds
• Current statement for 401(k) or IRA accounts
• Real Estate you now own: address, current value, loan balance, monthly payment, and rental income if any.
• Listing agreement and sales contract if selling your current home.
• Value of autos, boats and any other personal property.

Liability Information

• Complete list of current debts and minimum monthly payments (may be taken from credit report).
• Last 12 months cancelled checks (front and back) for rent or land contract.

Home Information

• Copy of your sales agreement.
• Copy of the MLS listing card.

Miscellaneous Information which may be required

• College diploma if graduated within last two years.
• Copy of Drivers License or picture ID at closing.
• Gift letter signed by donor and proof of receipt.
• Landlords contact information.
• Copy of your earnest money deposit check.
• Contact name and phone for appraisers access to property.
• Your Realtor's contact information.

As an alternative to the above requirements, you may qualify for either a limited or no documentation loan . Please call for more details.