Paperwork 101: What You’ll Need

Here’s what you can expect to provide to your Mortgage Officer throughout the mortgage process.

This is a list of documents that are commonly needed to support the mortgage application for all applicants:

• Paystubs or a benefit statement/award letter for the most recent 30-day period
• W-2 and/or 1099 Tax forms for the last two years
• For Self-Employed Income or Rental Income Only: Signed & dated personal and business federal tax returns with all schedules for the last 2 years.
• Most Recent Mortgage Statement (For all Real Estate Owned)
• Home Owners Insurance Declaration Page (For all Real Estate Owned)
• Complete Asset Statements for the most recent 60-day period. (All asset accounts including, savings/checking accounts, investment accounts, and retirement accounts)

Additional Documentation may be requested, if applicable to your application, including these examples:

• Lease/Rental Agreement(s) for rental property
• Closing Disclosure on recently Sold Property
• Corporate/Partnership Tax Returns and Agreements
• Business Profit and Loss Statements
• Separation Agreements
• Final Divorce Judgement
• Child Support Verification
• Bankruptcy petition and discharge
• Letter of Explanation for:
  • Recent Credit Inquiries
  • Past-Due Payments
  • Foreclosure/Default
  • Bankruptcy
  • Judgement/Liens
• Gift Letter for Gifted funds from an acceptable donor, including
  • a relative, defined as the borrower’s spouse, child, or other dependent, or by any other individual who is related to the borrower by blood, marriage, adoption, or legal guardianship
  • a non-relative that shares a familial relationship with the borrower, defined as a domestic partner (or relative of the domestic partner), individual engaged to marry the borrower, former relative, or godparent.