Documents Needed for Loan Applications

• Posted on January 29, 2016
• by Jeremy Lewis
• in Helpful Info
• No Comments.

             Normally Required for Most Borrowers:                          Documents which may be required:                                                                                                                                                                                            

• Copies of all W2’s/1099’s for last 2 years.                             Previous bankruptcy, need copies of
• Copies of tax returns (all pages) for last 2                             petition for bankruptcy and discharge,                                                                                       years.                                                                                             including supporting schedule.
• Copies of paycheck stubs for last 60 days                              Divorce decree if applicable.                                                                                                 Documentation supporting monies (most current).
• Copies of checking and savings account                                  received from social security/statements for last 2 months (all pages).                                 retirement trust income (awards
• Copies of quarterly or semi-annual                                          letter). statements for checking, savings, IRA’s,                                                                                               CD’s, money market funds, 401K, Profit                                                                                          Sharing, etc…
• Copy of Sales Contract when executed.                                   Documents Needed for FHA/VA
• Employment history for last 2 years                                        Copy of social security card for each                                                                                                                       (address any gaps in employment).                                           applicant and co-applicant.
• Residency history for the last 2 years.                                    VA- copy of DD214.
• Copy of earnest money check after the                                  VA- Name and address of nearest                                                                                              check clears the bank.                                                                 living relative.
• Any assets used for down payment,                                                                                                 closing costs and cash reserves must                                                                                                      be documented by a paper trail.
• Refinance- Copies of survey, taxes,                                                                                                  current mortgage statement, and                                                                                                 insurance declarations page.
• If mortgage has been paid off in                                                                                                            the last 2 years, need copies of HUD1.
• Copy of drivers license for each applicant.