Application Checklist

Below is a list of documents that are required when you apply for a mortgage. However, every financial situation is unique and you may be required to provide additional documentation.

Property

→Copy of signed sales contract including all riders for the property you are buying
→Copy of Cancelled Earnest Money Check (Verification of the deposit you placed on the home)
→Names, addresses and telephone numbers of all realtors, builders, insurance agents and attorneys involved
→Copy of Listing Sheet and legal description if available (if the property is a condominium please provide condominium declarations, by-laws and most recent budget)

Income

→Copies of pay-stubs for the most recent 30-day period (showing year-to-date totals)
→Copies of W-2 forms for the past two years
→Names and addresses of all employers for the last two years
→Letter of explanation regarding any gaps in employment greater than 30 days in the past 2 years
→ Work visa or green card (copy front & back)

If self-employed or receive commission or bonus, interest/dividends, or rental income:

→Provide full tax returns for the last two years PLUS year-to-date Profit and Loss statement (please provide complete tax return including attached schedules and statements. If you have filed an extension, please supply a copy of the extension.)
→K-1's for all partnerships and S-Corporations for the last two years (please double-check your return. Most K-1's are not attached to the 1040.)
→Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) including all schedules, statements and addenda for the last two years. (Required only if your ownership position is 25% or greater.) If you will use Alimony or Child Support to qualify:
→Provide divorce decree/court order stating amount, as well as, proof of receipt of funds for last year

If you receive Social Security income, Disability or VA benefits:

→Provide current year’s award letter from agency or organization

Source of Funds and Down Payment

→Sale of your existing home - provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/Closing Statement)

→Savings, checking, money market, and 401k funds - provide copies of bank statements for the last 3 months
→Stocks and bonds - provide copies of your statement from your broker or copies of certificates
→Gifts - If using gifted funds as part of your cash to close, provide an executed Gift Affidavit and proof of receipt of funds

Debt or Obligations

→Prepare a list of all names, addresses, account numbers, balances, and monthly payments for all current debts with copies of the last three monthly statements
→Include all names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years
→If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation

Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation