Below is a list of documents that are required when you apply for a
mortgage. However, every situation is unique and you may be required to
provide additional documentation. So, if you are asked for more
information, be cooperative and provide the information requested as soon
as possible. It will help speed up the application process.
Your Property
-
Copy of signed sales
contract including all riders
-
Verification of the
deposit you placed on the home
-
Names, addresses and
telephone numbers of all realtors, builders, insurance agents and
attorneys involved
-
Copy of Listing Sheet
and legal description if available (if the property is a condominium
please provide condominium declaration, by-laws and most recent budget)
Your Income
-
Copies of your
pay-stubs for the most recent 30-day period and year-to-date
-
Copies of your W-2
forms for the past two years
-
Names and addresses of
all employers for the last two years
-
Letter explaining any
gaps in employment in the past 2 years
-
Work visa or green
card (copy front & back)
If
self-employed
or receive
commission
or
bonus,
interest/dividends,
or
rental income:
-
Provide full tax
returns for the last two years PLUS year-to-date Profit and Loss
statement (please provide complete tax return including attached
schedules and statements. If you have filed an extension, please supply
a copy of the extension.)
-
K-1's for all
partnerships and S-Corporations for the last two years (please
double-check your return. Most K-1's are not attached to the 1040.)
-
Completed and signed
Federal Partnership (1065) and/or Corporate Income Tax Returns (1120)
including all schedules, statements and addenda for the last two years.
(Required only if your ownership position is 25% or greater.)
If you will use
Alimony
or
Child Support
to qualify:
Source of Funds and Down Payment
-
Sale of your existing
home - provide a copy of the signed sales contract on your current
residence and statement or listing agreement if unsold (at closing, you
must also provide a settlement/Closing Statement)
-
Savings, checking or
money market funds - provide copies of bank statements for the last 3
months
-
Stocks and bonds -
provide copies of your statement from your broker or copies of
certificates
-
Gifts - If part of
your cash to close, provide Gift Affidavit and proof of receipt of funds
-
Based on information
appearing on your application and/or your credit report, you may be
required to submit additional documentation
Debt or Obligations
-
Prepare a list of all
names, addresses, account numbers, balances, and monthly payments for
all current debts with copies of the last three monthly statements
-
Include all names,
addresses, account numbers, balances, and monthly payments for mortgage
holders and/or landlords for the last two years
-
If you are paying
alimony or child support, include marital settlement/court order stating
the terms of the obligation
-
Check to cover
Application Fee(s)
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