Application Documentation Checklist

All Borrowers

1. Complete two year residence history. This must include addresses, exact dates, landlord name and phone number if applicable (If you thoroughly complete your loan application this item is not necessary).
2. Two forms of identification, i.e. current driver license, social security card and or passport, etc.
   1. If not a US Citizen, please supply either your Permanent Resident Alien Card or Visa
3. Complete two year employment. This must include employer name, full address with zip code, phone number and exact dates of employment (Must have a human resources contact and phone number. No cell phone numbers and no P.O. Boxes) (If you thoroughly complete your loan application this item is not necessary).
4. Copies of the last 30 days of paycheck stubs. These must be concurrent check stubs evidencing name, social security number, year to date pay and employer name. (If you receive commissions and/or bonus income, please provide the last paycheck stub from the prior two calendar years.
5. Copies of all W-2 statements covering the last two years of employment.
6. Copies of the last two years federal income tax returns including all pages and schedules (state tax returns are NOT needed).
7. If divorced, must provide a complete copy of the divorce decree.
8. Two months statements of each checking, savings, investment, retirement or other asset account. (This MUST include all pages, even if pages are blank).
9. Sale of current residence - provide a copy of the settlement statement (HUD-1) to document sale of home and/or funds to close and release from current mortgage. (If applicable).

 

Self Employed Borrowers & Borrowers with Ownership Interests Greater than 25.00%

1. For all entities where the borrower owns 25.00% or more interest, complete federal corporate/partnership tax returns must be provided for the prior two years. If ownership interest is in a partnership, the K-1 must be provided as well.
2. Year to date profit and loss must be provided for all interests where there is a 25.00% or greater ownership interest.
3. Name and phone number for CPA must be provided.
4. Any loans reporting on personal credit reports but that are paid through the company must be validated with 12 months canceled checks. 
5. Copy of business license, corporate filing, or other supporting documentation to prove the length of time in business. 

 

Property Owners (to be supplied for all properties owned, even if owned free & clear)

1. Current mortgage statement, equity line statement, second mortgage statement (documentation of any lien).
2. Current monthly or annual homeowner's association statement.
3. Current homeowner's insurance and master homeowner's insurance if applicable.
4. Lease agreements for any rental/investment income properties owned.

 

Purchase Transactions

1. Complete and fully executed sales/purchase contract.
2. Name and phone number of real estate agent representing the purchaser.
3. Contract closing date agreed upon by all parties if not included within the purchase contract.
4. Name and phone number of the escrow and title company if not included with in the purchase contract.
5. Homeowner's insurance quote, along with insurance firm and agent's contact information.

 

Current Renters

1. Name, address and phone number of current landlord.
2. 12 months canceled checks to validate rental history (may be required).

 

Student or Student Loans

1. Copies of transcripts and diploma if the borrower has been in school within the prior two years.
2. Name, address, phone number and loan number for student loan servicer to validate deferral period and or repayment terms.

 

Last Updated: Saturday, May 17th, 2020