Items Needed from Borrowers
These are the routine items the borrower supplies to verify information in their application and to include when the file is submitted to an underwriter. Additional documentation can be required based on your individual circumstances. It is very important that all pages of a document are provided, that they are legible and not "cut off" on any of the sides. This helps to make your file run smoothly through the process!
IDENTIFICATION
* Drivers License - Please enlarge the drivers license 50% if faxing. License will not be legible if faxed at actual size
* Social Security Card - If you do not have this available, we have another option
* Tribal card - if your loan is a Section 184 Native American loan, please provide a copy of the front and back of your tribal card (not the CDIB card)
EMPLOYMENT/INCOME
* Paystubs - 1 full month of most recent paystubs
* Fixed Income only - Retirement/Social Security Income - 2017 Awards Letter or Benefits Letter from the current year stating the monthly benefit you receive
* W2/1099 Forms - last 2 years W2 statements and/or 1099 statement from ALL JOBS in the last 2 years
* (Personal) Federal Tax Returns - Must include all pages and all schedules from last 2 years. We do not need state returns
* Business Tax Returns - ANY business incoe on personal return requires 2 years' returns for that business
* Self-employed Borrowers Only - Letter from CPA/Tax Preparer stating you have been self-employed for the last 2 years along with the YTD Profit and Loss Statement for the current year
ASSETS
* Asset Statements - Checking, Savings, 401k, etc. Statements must cover most recent 2 months and must have all pages. If statements are being printed online, the best bet is print the pdf of the actual monthly statement the bank provides. All statements must have your name, account number, balances, name of bank/institution. You might choose to go physically into the bank. If so, ask the teller for a signed/stamped/dated 60-day transaction summary. They should also attach their business card if you go to a teller for this.
* 401k statements - need MOST RECENT quarterly statement. All pages. ALSO NEED the Terms of Withdrawal from your 401k plan even if not using 401k funds for closing.
MISCELLANEOUS
* Earnest Money - After your earnest money clears your bank, send a copy of the front and back of the cleared check so we can give you credit for this
* Insurance - After you have gotten a quote from your insurance agent, we simply need the name and number of your insurance agent. We will contact them and obtain everything we need.
* Divorce/Child support - If you have been divorced, we will require a copy of that divorce decree. If you are required to pay child/support or alimony, we will need proof of that decree/support worksheet. Reminder that all pages of these documents are needed.
* Bankruptcy - If you have had a bankruptcy, please provide a copy of those papers
* Rental income - if you have rental income, we need a copy of the most recent mortgage statement for that property showing taxes and insurance for escrow
Not all items listed above apply to all borrowers. Please provide the documents that are applicable to you.