Application Checklist

Below is a list of documents that are usually required in order to get approval for a mortgage. If you are applying for a conventional loan (Not FHA, VA or USDA), many of the requirements are reduced to one year.  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 approval process.  If you are purchasing a home, you will want to apply for approval BEFORE you go shopping.  For purchases, we do not need the Property information until you go under contract.

We encourage you to Apply for the loan first, and then let us advise you as to which of the items below we really need for your situation.

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 Title/Escrow comanies 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) and the name and contact information of the Management Company managing the property.

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
  • Name, address, Position or Title and phone number of all employers for the last two years
  • Letter explaining any gaps in employment in the past 2 years
  • If you are NOT a US Citizen, a copy of your work visa or green card (Both Sides) 
  • If you ARE a US Citizen, a copy of your Drivers License (Both Sides)
  • A copy of your Social Security Card 

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:

  • 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 award letter from agency or organization

Source of Funds and Down Payment

  • Checking, Savings or money market funds - provide copies of bank statements for the last 2 months
  • Stocks or Investment accounts - provide copies of your statement from your broker or copies of certificates
  • Gifts - If part of your funds to close is from a gift, information on the gift giver.  We will provide you with specific information on documenting the transfer of the gift funds, BEFORE the transfer
  • Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation
  • 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)

Debt or Obligations

  • If you have obtained ANY new credit in the three months prior to the application, we will need the name, address, account numbers, balances, and monthly payments for them
  • If renting, include the name, address and phone number of your landlord, and a copy of your lease
  • If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

 

  • Checking, Savings or money market funds - provide copies of bank statements for the last 2 months
  • Stocks or Investment accounts - provide copies of your statement from your broker or copies of certificates
  • Gifts - If part of your funds to close is from a gift, information on the gift giver.  We will provide you with specific information on documenting the transfer of the gift funds, BEFORE the transfer
  • Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation

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)