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Paperwork Needed For Your Loan

Aug 17, 2017 (0) comment

02g65143When applying for a home loan, there are many documents that you will need to submit, but I hope to make this process as easy as possible for you. With today’s mortgage regulations, the paperwork below is required to verify all of the information you provided on the loan application regarding you, your income, assets, credit and other real estate you may own. Delivering these documents all together up front makes the process easier for you and helps ensure a hassle-free, on-time closing.

Depending on the type of loan you are doing and its approval requirements, we may need some or all of the following for each borrower on the loan:

Income Documents:

  • Most recent paycheck stubs covering 30 days of YTD earnings
  • Personal Federal Income Tax Returns for the past two years
  • All W-2s, K-1s, or 1099s for the past two years
  • If self-employed and/or you own 25% or more of any company, all pages of business federal tax returns for the past two years
  • YTD Profit and Loss Statement and Balance Sheet for each company you own
  • Awards Letter from Social Security Administration for all social security
  • income
  • Letter regarding pension/retirement income amount to be received for the year

 Asset Documents:

  • All pages of checking and savings account statements for the past two months
  • For any large, unidentified deposits, provide a letter of explanation for the deposit and a copy of the item(s) that were deposited
  • If the money transferred from another account, we will need all pages of the statements for that account, as well
  • All pages of the most recent statement for any other assets, such as bonds, stocks, cash value life insurance, or money saved in retirement programs that will be used for cash to close or reserve funds
  • If using retirement account funds for the loan, provide the generic “terms of withdrawal” for the account along with the loan or withdrawal documentation
  • Copy of current mortgage statement(s) for all real estate you already own: current home, rental properties, or vacation home. If these mortgages are not escrowed for taxes and insurance, provide the most recent annual tax bill and insurance declaration page with premium as well. Also, if the property has HOA dues, provide a copy of the most recent HOA dues bill.
  • If any part of the down payment or closing costs are coming from a gift from an eligible source, a Gift Letter must be provided along with proof of receipt of gift funds


  • Driver’s license(s) or passport
  • All pages of separation agreement , divorce decree or court order, if applicable
  • Name and phone number of your current landlord, if applicable
  • Most recent student loan statement(s) listing the minimum monthly payment amount If you are currently in deferment (no payments due), please provide proof of the payment amount(s) once they come out of deferment.
  • All pages of bankruptcy, foreclosure, short sale or deed in lieu of paperwork

Home Purchase:

  • Sales Contract for the purchase of a new home
  • Homeowners insurance agent’s name and contact info
  • Homeowners association information with contact information if property is a condo or part of a homeowners association
  • Purchase Contract for current home being sold

Home Refinance:

  • Copy of current first mortgage statement
  • If you have a second mortgage or equity line, copy of statement, note/equity line agreement
  • Copy of title insurance policy from previous closing or HUD-1 Settlement Statement
  • Copy of your homeowners insurance declarations page

Please note that additional documentation may be required upon further review of your file.

I will explain the steps of the loan process and review with you what documents are needed and if we require anything else. My job is to guide you through the lending experience for the best possible result.

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