| In general, the documentation you will need includes: |
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Check for application fee |
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| Property Information (if you already have a contract on a house) |
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Purchase Agreement |
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Copy of legal description and MLS sheet. |
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If you are selling your current home, copy of listing contract |
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If you have sold your current home, copy of settlement statement (HUD-1) |
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Income & Assets |
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Pay stubs for the last 30 days |
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For the past two years: |
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Names and addresses of each employer |
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W-2s | |
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Statements for each bank, mutual fund, and/or investment account for the last three months |
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If you have made any large deposits to your accounts: |
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Explanation and source for deposit |
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If large deposit was a gift: |
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Signed gift letter (lender can supply) |
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Copy of gift check |
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Copy of deposit receipt | | |
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If you own more than 25% of a business: |
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Corporate or partnership tax returns | |
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If self-employed: |
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Tax returns for the last three years (with schedules) |
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Year-to-Date Profit and Loss Statement prepared by an accountant. | |
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If you own rental property: |
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Tax returns for the last two years and current rental agreements | |
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If you are retired: |
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If you receive Social Security: |
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Social Security Award Letter | |
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If you are counting child support as income: |
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Copy of divorce settlement |
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Copy of twelve months of cancelled child support checks | |
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Debts |
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Names, addresses, account numbers, balances and monthly payments on all existing debts |
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Explanation of credit report anomalies, including: |
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Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens |
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Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers) | |
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VA Loans |
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Copy of Form DD 214, Report of Separation |
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Miscellaneous |
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Photo ID and proof of Social Security number |
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Residence addresses for the past two years |
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If applicable, a copy of your divorce decree |
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If you are not a citizen, a copy of the front and back of your green card |