Mortgage Document Checklist
Income:
- Last 2 years Federal tax returns
- Copy of Extension, if applicable
- Last 2 years W-2s
- Paycheck stubs covering the last full 30 days
- Benefit award letter and last 2 years 1099’s, if retired
- Rental income- provide mortgage statement and leases
Self-Employed Income
- K-1’s for any business showing on Schedule E
- 2 years business returns if more than 25% ownership
- P&L for any self- employment income/loss
- Proof of business for schedule C self-employment
- Previous 1099
- Business license or CPA letter
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Assets
Last 2 months asset statement(s) for any asset being used for funds to close or reserves. All pages- if it says page 1 of 6, then provide page 6, even if blank A transaction history is not acceptable:
- Most recent statement for 401K, Mutual Fund, IRA, and/or investment accounts
- If funds are coming from a gift, then the following is required:
- Gift letter signed by all parties (we will provide the form)
- Copy of donor’s bank statement showing ability to give gift
- Proof of transfer of funds in the form of a wire confirmation or donor’s canceled check, and proof of deposit into your account
- If funds are coming from the sale of a home, the fully executed Closing Disclosure will be required
Additional Documents:
- Copy of current picture identification for each applicant, front and back
- If you have obligations due to legal actions ( i.e.: child support) bring in judicial decree
- Complete bankruptcy filing and discharge documents if less than 7 years since discharge
- Copy of any current mortgage statements and property tax bills from all properties owned
- Name and number of homeowners insurance agent and/or Homeowner’s insurance policy with paid receipt for one year; or existing policies must be in effect for a minimum of 90 days from the date of funding of this loan