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Checklist

As you undertake the home loan process, there is a list documents that your Loan Originator will typically need to have you and your co-borrower (if applicable) fill out to provide required or qualifying information. You can be be one step ahead by having those documents ready. Here is a list to get you started. Note that additional documents may be needed later in the process.

Identity Verification

● Full legal name, Social Security number and birthdate for all borrowers on application

● Phone number, email address, and current and former residential mailing addresses over the last two years

● Driver’s License or Government-issued photo ID for all borrowers on application

● Name, addresses, and phone numbers of all employers over the last two years

Income Verification

● Primary and secondary income amounts and sources

● Name, addresses, and phone numbers of all employers over the last two years

● Pay stubs covering the last 30 days

● Written explanation if employed less than two years or employment gap exists within the last 2 years

Income Verification - Self-Employed

● Federal tax returns, personal and business, including all Schedules, K1’s, etc., for the past 2 years

● Profit and loss statement – year-to-date

Purchase Property Information

● Copy of Signed Purchase Agreement-All pages and all counteroffers

● Closing Agent contact information

● Copy of Deposit Receipt

● Contact info for Listing and Selling Agent

● Address of property being purchased, year built, estimated down-payment amount and purchase price

● Estimates of annual property taxes, homeowners insurance and any homeowner association dues

Asset & Bank Documents

● Values of bank, retirement (401k, IRA), investment (Stocks, CDs), and other asset accounts

● Monthly debt obligations

● Last 2 months’ statements for all accounts listed on the application (include all pages of the statement, including ones that are blank)

● Explanation and documentation for any large or unsual non-payroll deposits or withdrawals

Mortgage Verification/Homeowner's Insurance

● Mortgage Statement(s) for all existing mortgages for Primary Residence

● Homeowner’s Insurance Declaration page

● Homeowners Association Statement (if applicable)

Tax Documents

● IRS Form 4506-T – Request for tax transcript, completed, signed and dated

● W-2s for the past two years

● Federal tax returns (1040s) for the past two years (all pages are needed)

Credit Verification

● Credit explanation letter for late payments, collections, judgments, or other derogatory items in credit history

● Bankruptcy/discharge papers for any bankruptcies in credit history

Social Security, Disability Or Pension

● Social Security Award Letters

● SSA-1099 for the past two years-all borrowers on application

● Pension Award Letters