Mortgage Documents

Documentation needed for getting a Mortgage

All Borrowers:

  • Copies of W-2s for past 2 yrs;
  • Copies of paycheck stubs for past 30 days (most current);
  • Copies of checking and savings acct  for past 3 mos (Copy all pages, even if blank, look at the bottom if it says page 1 of 6, then we need all 6 pages, etc.);
  • Copies of quarterly or semi-annual  for checking, savings, IRA’s, CD’s, money market fund, stocks, 401k’s, profit sharing, etc.(Copy all pages, even if blank, look at the bottom if it says page 1 of 6, then we need all 6 pages, etc.);
  • Copy of sales contract – with signatures;
  • Employment history for past 2 yrs (explain on paper any gaps of employment);
  • Residency history over past 2 yrs (complete address), with current mortgage info, if applicable. Land address, and mortgage info, if applicable. Rental property copies of leases plus mortgage info.
  • Cancelled earnest money check when it clears with the corresponding bank statement or stamped print-out from the bank showing it has cleared.
  • Commissioned or bonus income — if 25% or more of base, must have tax returns;
  • Check for the expense of appraisal & credit report (ask first);
  • Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
  • Any assets used for down payment, closing costs, and cash reserves must be documented by a paper trail;
  • If paid off mortgage in the last 2 yrs, need copies of HUD1;
  • Copy of driver’s license for applicant and co-applicant.

Self-Employed Borrowers:

  • Copies of most recent 2 yrs tax returns (federal only-with all schedules including K-1’s if applicable);
  • Copy of current profit & loss statement and balance sheet;
  • Copy of corporate/partnership tax returns for most recent 2 yr period if owning 25% or more of a company — copies of all W-2’s and/or 1099 forms.

Additional Documents Which May Be Required:

  • Relocation Agreement if move is financed by employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
  • Previous bankruptcy, need copies of petition for bankruptcy and discharge, including supporting schedules;
  • Divorce Decree if applicable;
  • Documentation supporting monies received from social security/retirement trust income, i.e. copies of direct deposit bank statements, award letters, need evidence your income will continue.

Documents Needed for FHA/VA Loans:

  • FHA: Copy of social security card and drivers license for each applicant and co-applicants;
  • VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper;
  • VA: Name and address of nearest living relative