What is Needed For Loan Application
Organize Your Documents
Salaried Borrowers:
- Pay Stubs for all borrowers for the last 30 days.
- W-2 Forms for all employment for all borrowers (for the previous 2 years)
Self-Employed Borrowers:
- Personal & Business Federal Tax Returns (for the last 2 years with all schedules).
- 1099s if applicable.
If you own more than 25% of a business:
- Corporate or Partnership Federal Tax Returns (for the last 2 years with all schedules)
If you receive Rental Income:
- Copies of current Rental Agreement, fully executed.
If you receive Pension Income:
- Pension award letter along with a recent check stub or copy of a bank statement if the funds are deposited electronically through direct deposit.
- 2 years of 1099s.
If you receive Social Security and/or Disability Income:
- Provide a copy of your award letter along with a recent check stub or copy of a bank statement if the funds are deposited electronically through direct deposit.
- 2 years of 1099s.
If you are Refinancing:
- Copy of your all Mortgage Statements if there are liens to be paid off.
- Copy of your most recent Homeowner’s Insurance bill.
Asset verification:
- Copy of the past 2 months statements on the following accounts:
- Checking, Savings, Mutual Funds, Stock, Bond, Life Insurance, Money Market and Retirement (all pages)
If you have made any large deposits to your accounts within the last 60 days:
- Source of deposit and explanation letter.
- Copy of deposit receipt.
- If the deposit was a gift, include a signed gift letter
If you are Buying a home:
- Purchase agreement signed by all parties.
- Copy of Cancelled Earnest Money Check
For VA loans:
- Copy of DD214 form (aka separation papers)
Miscellaneous:
- Copy of Driver License for all borrowers.
- Copy of Social Security Cards for all borrowers.
- If you were a full-time student during the last 2 years, a copy of your diploma or transcripts.
- Written explanation of credit variance, including: late payments, credit inquiries within the last 90 days, charge-offs, collections, judgments and/or liens.
- If applicable, 12 months of cancelled alimony checks.
- If applicable, 12 months of cancelled child support checks. Copy of court order and Birth Certificate of children.
- If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us documents to show your residency and Visa status in the United States.
