The Blog Single

  • Paperwork Needed for Your Loan

    We will need the following documents to get your home loan approved. Delivering all this to us up front makes the process easier for you and helps ensure a hassle-free, on-time closing. With today’s mortgage regulations, the paperwork below is required to basically prove everything that is on the loan application regarding you, your income, assets, credit and other real estate you may own.

    For each borrower on the loan, we’ll need copies or originals of:

    Income Documents:

    • Most recent paycheck stubs covering 30 days’ of earnings
    • Federal Income Tax returns for the past two years
    • All W-2’s, K-1’s, or 1099’s for the past two years
    • If self-employed include all pages of business tax return

    Asset Documents:

    • €Checking and savings accounts statements for the past two months
    • For any large deposits of $1,000 or more, provide a letter of explanation for the deposit, copy of the deposit slip and check
    • If the money transferred from another account, we will need the account statement showing the transfer (all pages)
    • Statements for any other assets such as bonds, stocks, cash value life insurance, or money saved in retirement programs
    • If using retirement account funds for the loan, provide the terms of withdrawal for the account
    • Copy of current mortgage statement(s) for all real estate you already own: current home, rental properties, or vacation home

    Personal:secretary

    • Driver’s license(s) or passport
    • If separated or divorced, separation agreement and divorce decree
    • Name & phone number of your current landlord if applicable

    Home Purchase:

    • Sales contract for the purchase of a new home
    • Homeowners insurance agent name & contact info
    • Homeowner’s association information with contact information if property is a condo or part of a homeowner’s association

    Home Refinance:

    • Copy of current mortgage statement
    • Copy of title insurance policy from previous closing or HUD-1 Settlement Statement
    • If you have a 2nfd mortgage or equity line, copy of statement, note/equity line agreement if applicable
    • Copy of your homeowner’s insurance declarations page
    • If you own other real estate, provide mortgage statement(s), insurance, tax, and association dues payment information

     

    Republished with permission from timpotempaloans.com.

0 comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top