DOCUMENTS NEEDED FOR A MORTGAGE PRE-APPROVAL
The following documents will be needed for mortgage pre-approval. We recommend you begin assembling these documents (if applicable).
1. Your Borrower Signature Authorization
2. Your Uniform Residential Loan Application (Form 1003)
3. Your residential history for the last two years.
4. Your current employer contact information.
5. Your latest paystub(s) covering the last 30 consecutive days.
6. Your W-2 forms for the last 2 years
7. Your 1099 forms for the last 2 years if you are a self-employed individual.
8. Your unexpired Driver’s license or other form of ID
9. Your credit reports and scores, retrieved by the lender with your authorization
10. Your other income sources – bonuses, child and/or spousal support, disability or VA benefits, pension, Social Security or other sources
11. Your bank statements showing money coming and going for the last 30 consecutive days showing proof of funds for down payment and closing costs
IF PURCHASING
1. Updated pay stubs from at least the past 30 days
2. Fully executed Verification of Employment letter
3. Fully executed Offer to Purchase
4. Fully executed sales contract completed by all parties (Realtors, sellers, and buyers) with all signed addendums ( any required documentation per said addendums)
5. Proof earnest money deposit has cleared your bank. A picture of the cleared check (front and back) should be available through your bank’s online access.
6. Homeownership education certificate if you are first time homebuyer
7. Title commitment with 12 month chain of title, verification of current property taxes, closing protection letter and wire instructions.
8. Homeowners Insurance: Declaration page or insurance binder with the correct mortgagee clause. Policy must provide sufficient dwelling coverage to cover the lower of the replacement cost or total loan amount.
9. Uniform Residential Appraisal Report from assigned AMC (Form 70) is required.
10. Copy of sales contract on existing home if you are selling current home.
IF REFINANCING
Most recent mortgage statement(s) for your current loan(s) for all properties.
Hazard Insurance Information: a copy of your hazard insurance declarations page or provide the name, company, phone number, and policy number for your homeowner’s insurance.
The following items should be in the file you received after your last closing on this property.
Copy of current Title Insurance policy and attached schedules. (If you can locate as it is not required).
Copy of HUD Settlement Statement or Closing Disclosure from your last transaction.
VA STREAMLINE
Recent Mortgage Statement
Current Mortgage Note
Homeowners Insurance Declaration Page
Copies of Drivers License and Social Security Cards
Copy of DD214 (VA Eligibility Form)
VA Disability Letter (If Applicable)
Second Mortgage Information (If Applicable)
Homeowners Association Documentation (If Applicable)
VA CASHOUT
Recent Mortgage Statement
Current Mortgage Note
Homeowners Insurance Declaration Page
Copies of Drivers License and Social Security Cards
Copy of DD214 (VA Eligibility Form)
Most recent two (2) months of bank statements (all pages)
Most recent two (2) months’ pay stubs
W-2 Forms from the past two (2) years
Full 1040 Schedules from the past two (2) years (all pages)
Assets documentation
Trust agreement (If Applicable)
VA Disability Letter (If Applicable)
Second Mortgage Information (If Applicable)
Homeowners Association Documentation (If Applicable)
