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