Mortgage Loan Checklist | Tara Doak

Thank you for the opportunity to be your home lender! To help us better serve you, we are providing the following list which include the typical documentation reviewed by the Lender to complete the mortgage process. After the documentation is reviewed by the Lender, there may be more detailed documentation deemed necessary to complete the mortgage process. By furnishing any and/or all of the documentation, an applicant is in no way obligated to accept the terms and conditions of the mortgage offered, nor does the borrower have to provide these documents to receive a Loan Estimate.

All Borrowers

Copy of unexpired picture identification (e.g., Driver's License, VISA, Passport, Military ID, or State Issued ID) for each applicant

Most recent two (2) months of bank statements, ALL numbered pages

Most recent two (2) months of brokerage statements, ALL numbered pages

Most recent two (2) months of retirement statements, ALL numbered pages

Terms of withdrawal for retirement accounts

Executed Purchase Contract/Agreement with all addendums

Supporting documentation for any recent deposits not noted as automated payroll deposits

Homeowners insurance policy if refinancing or information for the new property – agent and company name with phone number

If any deposits or funds for closing are from a Gift (e.g. from relative, employer, non-profit, etc.), then more documentation will be required depending on the loan program – check with your Loan Officer for a specific list for your chosen program

Copy of Earnest Money Check (a copy of the cleared check may be required as well, check with your Loan Officer)

Copy of Social Security card

Salaried Borrowers

Most recent 30 days of pay stubs for each income source for each applicant

W-2, K-1, and/or 1099 forms for the previous two (2) years for each applicant

Most recent two (2) years of personal federal income tax returns with ALL schedules for each applicant, if filed separately

Self-Employed Borrowers (Own at least 25% of a business, corporation, and/or partnership)

Most recent two (2) years of business federal income tax returns with ALL schedules for each applicant, if applicable

Year-To-Date Profit/Loss Statement and Balance Sheet for any sole proprietor company, partnership, or corporation in which you have 25% or more ownership

W-2, K-1, and/or 1099 forms for the previous two (2) years for each applicant

Other Items Based on Your Situation

School transcripts (if employed less than 2 years from graduation)

Current year's Award Letter for Social Security benefits, if applicable

Most recent 30-day pension/retirement income statements, if applicable

If using Child Support or Alimony as income, copy of agreement as well as proof of receipt of the support for the last six (6) months

Plans and specification may be required for new construction – check with your Loan Officer

If applying for a VA loan – DD214 (if retired/discharged), Statement of Service (if active duty), monthly child care amount/letter

Name and contact information for landlord if currently renting

Documentation for obligations not reflected on the credit report (e.g., Divorce Decree, Parental Support Document, privately-held note, farm equipment loans, etc.)

For any loans on which any applicant is a "Co-Signer," furnish a copy of the note and 12 months of cancelled checks to prove payment by other signer if you do not want the debt to be considered as your debt

Deferred student loans may require further documentation depending on the loan program – check with your Loan Officer for a specific list for your chosen program

Non-US citizens must provide proof of eligible permission to reside and work in the US – EAD or other eligible work VISA – with evidence of history of renewal if expiring within 12 months

Letters of explanation will be required for any credit inquiries, name variations, and address variations reflected on the credit report

Bankruptcy, judgment and/or foreclosure documentation – petition, discharge, release, and letter of explanation for the event

Ownership of Other Real Estate

Lease agreements on any rental properties

Most recent mortgage statement for all currently open mortgages with property address indicated

Most recent tax, insurance, and applicable HOA statements if current mortgage payments do not include those escrow amounts

Listing agreement or executed purchase contract for current residence and certified copy of executed closing statement (when available) for any property to be sold for the purposes of the new home loan

Talk to us today and learn how we can help you.

NOT A COMMITMENT TO LEND. BORROWER MUST MEET QUALIFICATION CRITERIA. EQUAL HOUSING OPPORTUNITY.

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