The following documents may be requested to obtain new mortgage loan:
- W-2/1099- Most recent two years
- Pay Stubs- Most recent 30 days
- Tax Returns- Most recent two years (complete Federal Return) if your self-employed, on commission, own rental property or have a side company. Otherwise just the first page of your most recent return.
- Business Tax Returns- Most recent two years (we occasionally need current year to date financials as well)
- Bank Statements-Most recent two months (all the pages)
- IRA, 401K, Brokerage Accounts- Most recent two months or quarterly statement (all the pages)
- Copy of your driver license or State ID
Also, the following documentation is also generally required.
For a Purchase:
- A signed purchase agreement
- A copy of the earnest money deposit check
- A copy of the realtor listing
- Realtor contact information
We may also need (if applicable)
- A copy of the divorce judgement/settlement agreement
- A copy of your current home owner insurance
- A copy of the recent year property taxes
- Copy of lease agreement on rental properties
- Copy of your current mortgage statement
- Name and number of landlord and/or 12 most recent canceled checks for rent payment
- DD Form 214 Long Form (for VA Loans)
- Letter of explanation for derogatory credit or job gaps
- Contact information for homeowner association
- Verification of current monthly association dues
Different lenders and different programs require varying amounts of documentation.
