Documents Needed for Loan Applications

Last two years federal tax returns (1040)
W-2’s for the last two years;
Last most recent 30 days of paycheck statements (keep them coming)
All pages of the last most recent 2 months of bank statements
Quarterly or semi-annual statements for savings, IRA’s, CD’s, money market fund, stock, 401k, profit sharing, and any other pension or retirement account
Executed purchase or sales agreement
Explanations for any gaps in employment for the last two years.
Rental property copies of leases plus mortgage information and most recent mortgage statement for owned real estate.
Commissioned or bonused income -- if 25% or more of base, must have tax returns;
Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
If paid off a mortgage in the last 2 years, need copies of HUD1;
Clear copy of rivers license for applicant and co-applicant.
Copy of social security card for each applicant and co-applicant

SELF-EMPLOYED BORROWERS:

Copies of most recent 2 years tax returns (with all schedules including k-I'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 the company -- copies of W-2’s and/or 1099 forms.

DOCUMENTS WHICH MAY BE REQUIRED:

Relocation Agreement if a move is financed by an employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
Previous bankruptcy, need copies of the petition for bankruptcy and discharge, including supporting schedules;
Divorce Decree if applicable;
Documentation supporting sums of money received from social security/retirement trust income, i.e. copies of direct deposit bank statements, awards letter, evidence income will continue.

DOCUMENTS NEEDED FOR FHA/VA LOANS:

FHA: Copy of social security card and drivers license for each applicant and co-applicants;
VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper;
VA: Name and address of the nearest living relative