REQUIRED DOCUMENTS
A loan application is a snapshot of a person’s financial situation to determine how prepared they are to take on the mortgage that they are applying for. Just as each person’s life is different, so will be their loan application and therefore the documents needed for the loan. For that reason I have broken down the list into things that everyone needs to show and then what most people need to show. Please look through the entire list and start gathering as much paperwork as possible. Not always, but typically, the more you can document, the better the rate!
• Loan Application. (see the example on our Applications page)
• Contact info for your homeowner’s insurance agent. (If you are just thinking about buying your first home, you don’t have to worry about this.)
• Clear photocopies of your driver’s license. (If you are not a US citizen, please also include a copy of your green card or visa.)
• Signed compliance docs. You will receive these by mail after you submit the loan application.
• Bank statements for the last two months for all accounts. Please make sure online statements have name and account number.
• Statement for any/all 401K, IRA or other investment accounts. If the statement is quarterly, we only need the most recent. If the statement is monthly, please bring the two most recent ones.
• Divorce papers if the transaction is after a recent divorce
• Gift letter if receiving a gift from a family member.
• Wage earner:
- 2 most recent W-2 for all borrowers
- 2 most recent pay stubs
• Self employed:
- 2 most recent tax returns. If your tax returns do not show your full income (or at least enough for the purpose of your loan), then all I need are 2 years business license (or letter from your CPA saying that you have been in business for 2 years).
• A good attitude about gathering any other miscellaneous documents needed for your transaction!
A loan application is a snapshot of a person’s financial situation to determine how prepared they are to take on the mortgage that they are applying for. Just as each person’s life is different, so will be their loan application and therefore the documents needed for the loan. For that reason I have broken down the list into things that everyone needs to show and then what most people need to show. Please look through the entire list and start gathering as much paperwork as possible. Not always, but typically, the more you can document, the better the rate!
• Loan Application. (see the example on our Applications page)
• Contact info for your homeowner’s insurance agent. (If you are just thinking about buying your first home, you don’t have to worry about this.)
• Clear photocopies of your driver’s license. (If you are not a US citizen, please also include a copy of your green card or visa.)
• Signed compliance docs. You will receive these by mail after you submit the loan application.
• Bank statements for the last two months for all accounts. Please make sure online statements have name and account number.
• Statement for any/all 401K, IRA or other investment accounts. If the statement is quarterly, we only need the most recent. If the statement is monthly, please bring the two most recent ones.
• Divorce papers if the transaction is after a recent divorce
• Gift letter if receiving a gift from a family member.
• Wage earner:
- 2 most recent W-2 for all borrowers
- 2 most recent pay stubs
• Self employed:
- 2 most recent tax returns. If your tax returns do not show your full income (or at least enough for the purpose of your loan), then all I need are 2 years business license (or letter from your CPA saying that you have been in business for 2 years).
• A good attitude about gathering any other miscellaneous documents needed for your transaction!
