Contact PaulThis is a typical list of items that you might need to gather for a full loan approval. Questions, concerns???... contact our team.
Every situation is unique and our goal is to help you find a solution that works for you. This hopefully will just give you some insight to the type of documents that we will be considering.
Also, you may find this blog post useful, Homebuyer Do's and Don'ts.
If you like, complete our online quick application, and we will give you a tailored list of the items to provide. It's quick, it's tailored to your needs and it's free! :)
ITEMS NEEDED WITH UPFRONT LOAN APPLICATION
(sometimes less may suffice, but if you have all this you are golden!)
1. Legible copy of your unexpired photo ID
2. 30 days of paystubs in a row
a. Biweekly paystubs require 3 in a row and weekly paystubs 5 in a row to get a full 30 days
3. 2018 and 2017 tax return (first two pages only)
a. Haven't filed 2018 1040 tax return? Up to October 15 that is OK, just give us a copy of your extension and include the 2011 return instead
4. 2018 and 2017 W-2’s/1099’S (all)
5. All K-1's listed on your tax return
6. Full tax returns with all pages/schedules will be required if:
a. your return shows any Schedule C or Schedule E income or losses
7. Any business entity (corporation, partnership, LLC) in which you own 25% or more may also require two years of the company tax returns.
8. Most recent two months of statements for each asset account included on the loan application (bank
accts, stock accts, 401k/IRA etc) (all pages of each statement)
9. If applicable, a complete copy of:
a. bankruptcy papers (if discharged within the last 10 years)
b. divorce decree or child support order (if child support is paid or if you want to use child support income to qualify)
10. Current leases for any rental property owned.
For a purchase please include
a. Your Earnest Money Contract fully signed and receipted by the title company
b. Copy of your earnest money and any option fee checks
For a VA Loan please also include your DD-214.
For a refinance please include
a. survey for the house being refinanced
b. original promissory note being refinanced
c. HUD-1 Settlement Statement from previous closing
d. Current mortgage statement
TYPICAL ITEMS NEEDED PRIOR TO FINAL LOAN APPROVAL
1. Name and contact info for the insurance agent providing homeowner’s coverage on your new home
2. Up to date survey of the home being purchased (for a purchase we can often use a previous survey provided by the seller)
3. Updated bank account transaction history showing the earnest money check clearing your account and
remaining available balance, with all transactions since the end of the last statement.
4. Any deposits other than auto-deposited payroll may require additional documentation. In general you should plan on all of your bank accounts being “under the microscope” for mortgage underwriting until the loan has closed. So if there are going to be any unusual deposits or transfers please contact your lender first to be sure you have the correct papertrail needed.
Every situation is unique and our goal is to help you find a solution that works for you. This hopefully will just give you some insight to the type of documents that we will be considering.
Also, you may find this blog post useful, Homebuyer Do's and Don'ts.
If you like, complete our online quick application, and we will give you a tailored list of the items to provide. It's quick, it's tailored to your needs and it's free! :)
ITEMS NEEDED WITH UPFRONT LOAN APPLICATION
(sometimes less may suffice, but if you have all this you are golden!)
1. Legible copy of your unexpired photo ID
2. 30 days of paystubs in a row
a. Biweekly paystubs require 3 in a row and weekly paystubs 5 in a row to get a full 30 days
3. 2018 and 2017 tax return (first two pages only)
a. Haven't filed 2018 1040 tax return? Up to October 15 that is OK, just give us a copy of your extension and include the 2011 return instead
4. 2018 and 2017 W-2’s/1099’S (all)
5. All K-1's listed on your tax return
6. Full tax returns with all pages/schedules will be required if:
a. your return shows any Schedule C or Schedule E income or losses
7. Any business entity (corporation, partnership, LLC) in which you own 25% or more may also require two years of the company tax returns.
8. Most recent two months of statements for each asset account included on the loan application (bank
accts, stock accts, 401k/IRA etc) (all pages of each statement)
9. If applicable, a complete copy of:
a. bankruptcy papers (if discharged within the last 10 years)
b. divorce decree or child support order (if child support is paid or if you want to use child support income to qualify)
10. Current leases for any rental property owned.
For a purchase please include
a. Your Earnest Money Contract fully signed and receipted by the title company
b. Copy of your earnest money and any option fee checks
For a VA Loan please also include your DD-214.
For a refinance please include
a. survey for the house being refinanced
b. original promissory note being refinanced
c. HUD-1 Settlement Statement from previous closing
d. Current mortgage statement
TYPICAL ITEMS NEEDED PRIOR TO FINAL LOAN APPROVAL
1. Name and contact info for the insurance agent providing homeowner’s coverage on your new home
2. Up to date survey of the home being purchased (for a purchase we can often use a previous survey provided by the seller)
3. Updated bank account transaction history showing the earnest money check clearing your account and
remaining available balance, with all transactions since the end of the last statement.
4. Any deposits other than auto-deposited payroll may require additional documentation. In general you should plan on all of your bank accounts being “under the microscope” for mortgage underwriting until the loan has closed. So if there are going to be any unusual deposits or transfers please contact your lender first to be sure you have the correct papertrail needed.
Tax documents not easy to find?
Your CPA can often email it to you quickly.
We will provide you a link to securely upload any documents to us.
Your CPA can often email it to you quickly.
We will provide you a link to securely upload any documents to us.
