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Loan Documentation

Application Documentation Checklist

Below is a list of documents that are required when you apply for a Home Mortgage. However, every circumstance is unique and you may be required to arrange for additional documentation.

Your Real Estate Transaction

  • Copy of signed sales contract including all addendums and counter offers
  • If it’s an existing owned home then current mortgage statement for all mortgages
  • Verification of the deposit you placed on the home typically called Earnest Money Deposit “EMD”.
  • Names, addresses and telephone numbers of all Realtors, Escrow, Title individuals involved in the transaction.

Income Documentation

  • Copies of your pay-stubs for the most recent 30-day period reflecting year-to-date on stubs
  • Copies of your W-2 forms for the past two years
  • Letter explaining any gaps in employment in the past 2 years

If self-employed or receive commission or bonus, interest/dividends, or rental income:

  • Provide full tax returns for the last two years & year-to-date Profit and Loss statement (please provide complete tax return including attached schedules and statements.
  • K-1?s for all partnerships and S-Corporations for the last two years ask your CPA for this if you can’t locate
  • 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:

  • Provide divorce decree/court order stating amount, as well as, proof of receipt of funds for last year

If you receive Social Security income, Disability or VA benefits:

  • Provide most recent award letter from agency or organization

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 called a HUD1)
  • Savings, checking or money market funds – provide copies of bank statements for the last 2 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 from person gifting
  • Information reflecting on your application and/or your credit report may be subject to change which may request further documentation.