REQUIRED DOCUMENTS TO BUY A HOME
.The following documents will be needed for loan approval. We recommend you begin assembling these documents (if applicable).
1. Your date of birth.
2. Your social security number.
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 ( Year 2021, 2022).
7. Your 1099 forms for the last 2 years ( Year 2021, 2022) if you are a self-employed individual.
8. Your prior Year-to-Date (YTD) paystubs for the last 2 year period ( 12/2021, 12/2022).
9. Your debt information and credit score report.
10. Your driver license.
11. Your bank statements showing money coming and going for the last 30 consecutive days.
12. Your earnest money source (down payment).
13. Your signed purchase and sales agreement between you and the seller.
14. Your appraisal report for the subject property
15. Your homeowner insurance binder for the subject property
17. Your fund for mortgage closing costs
IDENTIFICATION
Driver’s license(s).
Social Security card(s).
If you are not a US citizen, a copy of the front and back of your green card(s).
GROSS MONTHLY INCOME
Your paystub(s) covering the last 30 consecutive days
Your W-2 Forms for the last 2 years
Your Year-to-Date (YTD) paystubs for the last 2 year period
Your most recent personal tax return with all schedules
Award letter for any social security and/or child support. Should show income to continue for the next 3 years.
Retirement award letters. Should show income to continue for the next 3 years.
Bank statement shows how the social security and/or child support income is reported under your name
If you are self-employed, please provide a copy of any applicable licenses for your business.
All 1099s for the most recent two-year period
Your Year-to-Date (YTD) paystubs for the last 2 year period
Your most recent personal tax return with all schedules.
Bank statement shows how the income activities are reported under the business name
MONTHLY HOUSING EXPENSE
Rent
First Mortgage (P&I)
Other Financing (P&I)
Hazard Insurance
Real Estate Taxes
Mortgage Insurance
Homeowner Association Dues
Other
Alimony
Child Support
Separate Maintenance
Job Related Expenses
ASSETS
Last 2 months of bank statements. These must include all pages of the statement(s) even if the last page is blank. Internet copies are acceptable as long as they contain bank name, account number, your name and 60 days history. Statements with redacted information are not acceptable.
Last quarterly statement for all listed other asset accounts. This will include 401(k), IRA, stock accounts, and mutual funds. Must include all pages of statement even if last page is blank.
Asset Type ( Name, Account No., Value)
Bond
Bride Loan Not Deposited
Certificate of Deposit Time
Checking Account
Individual Development Account
Life Insurrance
Money Market Fund
Mutual Fund
Retirement Fund
Savings Account
Stock
Stock Option
Trust Account
LIABILITIES
Resolving (e.g, credit cards)
Installments (car, student loans, personal loans)
Open 30-Day (balance paid monthly)
Lease (not real estate)
Other
HELOC
Mortgage Loan
MISCELLANEOUS
If you own other real property (rental or second homes). Please provide hazard insurance declarations page, property tax statements, leases, and a copy of the current mortgage on all properties.
If applicable, a signed copy of your complete divorce decree.
If you receive child support, alimony, or separate maintenance and wish this to be considered as income, provide proof of receipt for the last 12 months.
If you have previous bankruptcy, a copy of discharge or dismissal paperwork.
IF PURCHASING
Fully executed sales contract completed by all parties (Realtors, sellers, and buyers) with all signed addendums ( any required documentation per said addendums).
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.
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)
