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Mortgage Checklist
Be Prepared
When You are ready to
apply, please be prepared to provide the following application and
property information
Your Property
-
Copy of signed sales
contract including all riders, if a home has been selected
-
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 declaration, by-laws and
most recent budget)
Your Income
-
Copies of your pay
stubs for the most recent 30-day period
-
Copies of your W-2
forms for the past two years
-
Names and addresses of
all employers for the last two years
-
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 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 or
money market 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 part of
your cash to close, provide Gift Affidavit and proof of receipt of
funds
-
Based on information
appearing on your application and/or your credit report, you may
be required to submit additional documentation
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
-
A Check to cover
Application Fee(s). Telephone your Mortgage Specialist for the
exact amount.
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