Standard Documents Needed for a Home Loan

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• Past two years W-2 or 1099 statements (whichever applies)

• Past two years federal tax return (including all schedules and statements)

• Two most recent months’ bank statements (must include all pages)

• Paycheck stubs covering the last (30) thirty days

• Copy of driver’s license

• Name and contact information of your homeowners insurance agent

 

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For a Purchase

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• a copy of the real estate purchase contract

 

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For a Refinance

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• a copy of the most recent mortgage statement

• If not escrowed – a copy of the homeowners’ insurance declaration page & the property tax notice

 

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For Self-Employed Income (if 25% ownership or more)

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• Most recent 2 years of filed business federal tax returns (with all schedules and k-1s)

• Year to Date Profit and Loss

• Year to Date Balance Sheet

 

 

If you currently own Other Real Estate

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• A copy of the most recent mortgage statement for each property

• If the property is not escrowed, or is owned free and clear – a copy of the homeowners’ insurance declaration page & the property tax notice

• If the property is a rental – a copy of the current rental agreement

 

 

If funds to close are coming from the Sale of a Home

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• the signed Closing Disclosure will be required by closing

 

 

If funds are coming from a Gift

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• Gift letter signed by all parties (we will provide the form)

• Proof of transfer of funds (this is easiest if wired directly to the title company)

• Otherwise – wire confirmation or copy of donor’s check, proof funds have cleared giftor’s account, proof of deposit into buyers account, and proof funds have cleared the buyer’s account

• For FHA a copy of the donor’s most recent bank statement showing the ability to gift is required
   

 

Additional Documentation (if applicable)

 

• If retired – benefit award letter and the last 2 years 1099s

• If Divorced – copy of Decree of Divorce

• If less than 7 years out of Bankruptcy – copy of the Discharge of Debtor

• Letters of clarification for credit inquiries

• Other Letters of explanation may be needed

• Latest statement for any stock, 401k, or IRA accounts

 

 

Depending on your situation, other items may be required