Application
Checklist
Below is a list of
documents that are
required when you
apply for a
mortgage. However,
every situation is
unique and you may
be required to
provide additional
documentation. So,
if you are asked for
more information, be
cooperative and
provide the
information
requested as soon as
possible. It will
help speed up the
application process.
Your Property
-
Copy of signed sales contract including all riders
-
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
declaration,
by-laws and most
recent budget)
Your Income
-
Copies of your pay-stubs for the most recent
30-day period
and year-to-date
-
Copies of your W-2 forms for the past two years
-
Names and addresses of all employers for the last
two years
-
Letter explaining any gaps in employment 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 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
-
Check to cover Application Fee(s)
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