COMMON MORTGAGE LOAN DOCUMENTATION REQUIREMENTS

FHA 3.5% Down Loan (max loan amount varies by county)
  • » Last 30 days worth of pay stubs for all loan applicants.
  • » Last 2 years of Federal Tax Returns with ALL Schedules (no State returns). Make sure page 2 is signed of returns.
  • » If self-employed, also need last 2 years of Business Tax Returns/K-1s
  • » Last 2 years of W2s (1099s if any) for all loan applicants.
  • » Last 2 month’s of asset statements ALL pages for all loan applicants. (401k, IRA, Checking, Savings, Money Market, etc.)
  • » Explanation & source for large deposits (greater than $500 and not payroll related).
  • » Enlarged/Legible copy of driver’s license for all loan applicants
  • » Executed sales contract with all addendums. (all signatures required)
  • » Name & Contact information for insurance agent we will be using. (only for SFR, not condos)
  • » Proof Earnest Money check cleared account. (front & back of check from online banking)
  • » Letter of Explanation, No New Credit in the past 90 days, sign and date. If new accounts or credit, provide terms.
  • » Appraisal Credit Card Authorization Form.
Conforming Loan (max loan of $417,000 or less)
  • » Last 30 days worth of pay stubs for all loan applicants.
  • » Last 2 years of Federal Tax Returns with ALL Schedules (no State returns). Make sure page 2 is signed of returns.
  • » If self-employed, also need last 2 years of Business Tax Returns/K-1s.
  • » Last 2 years of W2s (1009s if any) for all loan applicants.
  • » Last month of asset statements ALL pages for all loan applicants. (401k, IRA, Checking, Savings, Money Market, etc.)
  • » Explanation & source for large deposits (greater than $500 and not payroll related.)
  • » Enlarged/Legible copy of driver’s license for all loan applicants.
  • » Executed sales contract with all addendums. (all signatures required)
  • » Name & Contact information for insurance agent we will be using. (only for SFR, not condos)
  • » Proof Earnest Money check cleared account. (front & back of check from online banking)
  • » Letter of Explanation, No New Credit in the past 90 days, sign and date. If new accounts or credit, provide terms.
  • » Appraisal Credit Card Authorization Form.
Other Docs Possibly Needed on Per-Case Basis:
  • » Executed rental agreements if any, if new rental. Otherwise Schedule E from Tax Return.
  • » Proof of security deposit or proof received first rent payment. (canceled check)
  • » Executed Gift Letter, and proof of funds/deposit.
  • » Verification of Rent/Mortgage
  • » Verification of Deposit
  • » Verification of Employment
  • » Last month’s Mortgage Statement.
  • » Proof of taxes and insurance.
  • » Condo Questionnaire (name & contact info. for management company & insurance)
  • » Condo Insurance
  • » Letter of explanation on address variations.
  • » Diploma/Transcript
  • » Faxed Pay-Off Statement
  • » Last 3 months cancelled checks for alimony/child support.
  • » Last 3 months of cancelled rent checks on old primary.
  • » Social Security Award Letter, must show continuance for 3 or more years.
  • » Proof of retirement & continuance for 3 years.
  • » Disability award letter & continuance for 3 years.
  • » Divorce Decree/ Separation Agreement.