Here is a list of essential documents needed for your mortgage application. Keep in mind that individual situations may vary, and you might need to furnish additional documentation. If requested, cooperate promptly and provide the required information as it will expedite the application process.
Submit complete tax returns for the last two years along with year-to-date Profit and Loss statements. Ensure the tax return includes all attached schedules and statements. If you've filed an extension, include a copy of the extension.
Include K-1 forms for all partnerships and S-Corporations from the last two years. Verify that your return includes these forms, as they are often not attached to the 1040.
If your ownership position is 25% or greater, provide completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) for the last two years. Include all schedules, statements, and addenda.
If using Alimony or Child Support to qualify, furnish the divorce decree or court order stating the amount, along with proof of funds received for the last year.
For those receiving Social Security income, Disability, or VA benefits, submit the award letter from the respective agency or organization.
For the sale of your current home, submit a copy of the signed sales contract. If unsold, provide a statement or listing agreement. At closing, ensure you provide a settlement/closing statement.
For savings, checking, or money market funds, supply copies of bank statements covering the last 3 months.
If you have stocks and bonds, furnish copies of your broker statement or certificates.
If gifts contribute to your cash to close, include a Gift Affidavit and proof of funds receipt.
Depending on information in your application or credit report, additional documentation may be required.
Compile a roster detailing names, addresses, account numbers, balances, and monthly payments for all current debts, accompanied by copies of the most recent three monthly statements.
Provide information on names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years.
If paying alimony or child support, include the marital settlement or court order specifying the terms of the obligation.
Ensure you have a check available to cover any Application Fee(s).
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