
Documents Needed For Loan Applications
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Last two years federal tax returns (1040)
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W-2’s for the last two years;
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Last most recent 30 days of paycheck statements (keep them coming)
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All pages of the last most recent 2 months of bank statements
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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
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Executed purchase or sales agreement
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Explanations for any gaps in employment for the last two years.
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Rental property copies of leases plus mortgage information and most recent mortgage statement for owned real estate.
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Commissioned or bonused income -- if 25% or more of base, must have tax returns;
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Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
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Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
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If paid off a mortgage in the last 2 years, need copies of HUD1;
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Clear copy of rivers license for applicant and co-applicant.
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Copy of social security card for each applicant and co-applicant
SELF-EMPLOYED BORROWERS:
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Copies of most recent 2 years tax returns (with all schedules including k-I's if applicable);
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Copy of current profit & loss statement and balance sheet;
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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:
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Relocation Agreement if a move is financed by an employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
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Previous bankruptcy, need copies of the petition for bankruptcy and discharge, including supporting schedules;
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Divorce Decree if applicable;
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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:
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FHA: Copy of social security card and drivers license for each applicant and co-applicants;
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VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper;
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VA: Name and address of the nearest living relative
