Once you complete the easy-to-use online mortgage application and review the disclosures, the following information is needed to proceed your mortgage loan application:
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 home – copy of listing contract
If you have sold your current home – copy of settlement statement (HUD-1)
Income &Assets
Pay stubs for the last 30 days
For the past 2 years:
- Complete Federal Tax Returns including all schedules
- W-2s and/or 1099s; this includes pension, social security employment, and unemployment
If you have made any recent deposits to your accounts outside of payroll:
- Explanation and source of deposit
- If deposit was a gift:
- Signed gift letter (lender can supply)
- Copy of gift check
- Copy of deposit receipt
- Copy of withdrawal from Donor’s account
- Year-to-date Profit and Loss Statement prepared by your tax preparer
- Corporate or partnership tax returns for last 2 years – all pages/schedules
- Copies ofall current rental agreements
- Social Security Award Letter
- Pension Award Letter
- Copy of divorce decree and/or court order
- Copy of 12 months of cancelled child support checks
- If obligated to pay child support or spousal maintenance, supply divorce decree and/or court order
Debts
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 including all schedules: Petition, Schedule of Debts, Discharge)
VA Loans
Certificate of Eligibility; copy of form DD 214
Miscellaneous
Photo ID and proof of Social Security Number
Residence addresses for the past 2 years
If applicable, a copy of your divorce decree
If you are not a U.S. citizen, a copy of the front and back of your green card