Required Documents - Home Loan Wiki

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Required Documents

Required Documents If you are purchasing or refinancing your home, and you are salaried, you will need to provide the past two-years W-2s and one month of pay-stubs: OR, if you are self-employed you will need to provide the past two-years tax returns. If you own rental property you will need to provide Rental Agreements and the past two-years' tax returns. If you wish to speed up the approval process, you should also provide the past three months' bank, stock and mutual fund account statements. Provide the most recent copies of any stock brokerage or IRA/401k accounts that you might have. If you are requesting cash-out, you will need a 'Use of Proceeds' letter of explanation. Provide a copy of the divorce decree if applicable. If you are not a US citizen, provide a copy of your green card (front and back), or if you are NOT a permanent resident provide your H-1 or L-1 visa. If you are applying for a Home Equity Loan you will need, in addition to the above documents, to provide a copy of your first mortgage note and deed of trust. These items will normally be found in your mortgage closing documents.


Required Documents: Different programs require varying amounts of documentation. The bestloan program foryou may require more or less documentation.

• Past two (2) years W-2 statements
• Pay Stubs covering the last (30) thirty days
• Three most recent monthly bank statements
• Most recent transaction summary of 401K, IRA, or Mutual Fund Accounts
• Photocopies of any stocks or certificates of deposits
• Copy of the purchase and sale agreement
• If you are currently renting....either 12 months canceled rent checks or the name and address of your current landlord
• If divorced...a fully executed divorce decree
• For a refinance...a copy of the deed, and most recent tax bill
• A letter of explanation for any known credit problems For self employed borrowers, employed in sales, paid by commission, or owns rental real estate:
• Two (2) years signed personal tax returns - including all schedules
• If self-employed through a corporation, last two years corporate returns as well as a year-to-date profit and loss statement and balance sheet

Different programs require varying amounts of documentation.

Required Documents for Initial Credit Approval

Required Documents for Residential
Refinance Mortgage Loan Applications
Copies are acceptable unless otherwise indicated.
URequired for Credit Underwriting (for initial credit approval):U
1) Copies of all borrowers’ social security cards and drivers licenses;
2) Most recent two (2) years’ W-2 forms on all borrowers from all employers;
3) Most recent pay check stubs covering the last (30) thirty days for each borrower;
4) All pages of your most recent three (3) months banks statements on all accounts
(checking, savings, etc.); (Please send copies of the statements that are mailed to you
– not internet access/printed statements. If you have to go to the bank to get printout
copies, have the bank stamp, sign and date the copy.)
5) Photocopies of any Stocks or Certificates of Deposits, if applicable;
6) Copy of your current mortgage payment coupon;
7) Copy of the deed;
8) Copy of your most recent survey;
9) Copy of most recent property tax statement;
10) Copy of homeowners insurance policy declaration page;
11) Copy of title insurance policy;
12) If divorced… a fully executed divorce decree;
13) A letter of explanation for any known credit problems;
14) A check for $500 is required at time of application to help cover your appraisal, credit
report, and any application & verification fees.
For Self Employed Borrowers, Employed In Sales Paid By Commission, Or
Owns Rental Real Estate:
1) Two (2) years’ signed personal Tax returns- including all schedules;
2) If self-employed through a corporation, last two years corporate returns as well as a
year-to-date profit and loss statement and balance sheet.