--------- GENERAL LIST OF DOCUMENTS NEEDED TO UNDERWRITE YOUR LOAN ---------
Please note: document screenshots or pictures are not allowed. Formal / legible documentation is required. All pages of every statement are needed. As an example: if it lists page 1 of 7, all 7 pages are needed. All these are copies; we do not need the original. Please scan/send in a secure email, Dropbox or we can set up a time to meet in person. Based on our loan consultation, we will modify this list specific to you.
· Copy of your driver’s license
· If a purchase, please provide the fully executed purchase contract for the subject property
· If you are a permanent resident alien, please provide a front & back copy of your green card.
· Most recent 2 pay stubs <consecutive 30 days>
· 2020 W2s.
· Full 2020 & 2019 personal tax returns <only federal required> - all pages & schedules are required. Please note that taxes must be filed & recorded by IRS.
· If self-employed & applicable, full 2020 & 2019 business tax returns including K1s - all pages & schedules are required.
· Name & number to verify employment <manager/ HR>.
· If in school during the past 2 years, please provide your school diploma or transcripts. This is needed to complete a full 2yr work/ school history.
· If you receive social security, please provide the most recent Awards Letter.
· If you receive a pension, please provide documentation that it will continue for at least 3 years after closing.
· Last 60 days of all bank statements. Not a transaction history but full statements as you would receive in the mail. Including: name, account number & all pages of the statement. This will be the source of your downpayment & earnest money.
· Within each bank statement, please source any non-payroll deposits. We will guide you to what documentation is needed for each.
· If applicable, most recent 401K statement <or any other investment / retirement account>.
· If you are liquidating investments <IRA / 401K / etc.>, please document the source <60 days / all pages>, liquidation details & updated bank statements once the money is deposited into your account. If you receive a disbursement check, please make a copy of that check before you deposit.
· Gift funds: (1) completed gift letter that we will provide, (2) donor wires directly to the closing attorney for closing.
· When applicable, cleared/canceled earnest money check <image of the check after it clears your account>. You can obtain this online by clicking the associated check number.
· Once the earnest money clears your account, please provide an updated bank statement <or transaction history> showing the monies leaving & balance after deduction. Date gaps between prior statements are not allowed.
· Contact name & number for who you would like to use for your homeowner's insurance.
o For a single-family home or townhome, full coverage / 100% replacement cost.
o For a condo, you will need an HO6 policy = 20% of unit value.
If you currently own a home:
· Most recent mortgage statement on all homes owned
· If you do not escrow tax & insurance in your mortgage, please provide the most recent tax bill & insurance declaration page that will confirm the premium amounts.
· Document confirming the HOA amount. A payment book or letter from the HOA would suffice. If there is not an HOA, please provide a simple letter stating that there is not an HOA for each home owned.
· If you are on the title but not on the mortgage, please provide the current mortgage 'Note'
· If you are selling a home before you purchase, please provide the fully executed contract for the sale of your home.
Additional documents if applicable:
· If applicable, fully executed divorce decree or child support agreement – including the full settlement agreement & final judgment.