| In general, the documentation you will need includes: |
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Check for application fee |
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Property Information (if you already have a contract on a house) |
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Purchase Agreement. |
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Copy of legal description and MLS sheet. |
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If you are selling your current home, copy of listing contract. |
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If you have sold your current home, copy of settlement statement (HUD-1). |
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Income & Assets
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Pay stubs for the last 30 days. |
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For the past two years: |
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• Names and addresses of each employer.
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• W-2s |
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Statements for each bank, mutual fund, and/or investment account for the last three months. |
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Estimated value of personal property and furniture.
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If you have made any large deposits to your accounts: |
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• Explanation and source for deposit. |
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• If large deposit was a gift: |
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• Signed gift letter (lender can supply). |
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• Copy of gift check. |
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• Copy of deposit receipt. |
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If you own more than 25% of a business: |
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• Corporate or partnership tax returns. |
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If self-employed:
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• Tax returns for the last three years (with schedules). |
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• Year-to-Date Profit and Loss Statement prepared by an accountant.
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If you own rental property: |
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• Tax returns for the last two years and current rental agreements. |
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If you are retired: |
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If you receive Social Security: |
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• Social Security Award Letter. |
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If you are counting child support as income:
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• Copy of divorce settlement. |
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• Copy of twelve months of cancelled child support checks. |
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Debts
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Names, addresses, account numbers, balances and monthly payments on all current loans. |
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Explanation of credit report anomalies, including:
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• Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens. |
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• Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers). |
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VA Loans
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Copy of DD Form 214, Report of Separation.
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Miscellaneous
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Photo ID and proof of Social Security number.
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Residence addresses for the past two years.
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If applicable, a copy of your divorce decree.
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If you are not a citizen, a copy of the front and back of your green card.
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