Managing Your Mortgage Documents

If you are financing your home, your lender will ask for some documentation from you to start the qualification process. As a courtesy, we have gathered a list of common documents needed to begin the mortgage process. Your lender will give you a more specific list and help answer any questions you have when the time arises!

NEEDED FOR ALL LOANS/BORROWERS:

  • Clear copy of Driver’s License and Social Security Card
  • Executed loan disclosures provided by Lender

IF YOU RECEIVE A W2 FROM YOUR EMPLOYER AND RECEIVE HOURLY OR SALARY PAY:

  • Pay stubs for all borrowers covering the most recent 30 days
  • W2 forms for all borrowers for the most recent 2 years

IF YOU RECEIVE BONUS OR COMMISSION PAY:

  • Pay stubs for all borrowers covering the most recent 30 days
  • W2 forms for all borrowers for the most recent 2 years
  • Most recent 2 years of Personal Tax Returns

IF YOU RECEIVE A W2 FROM YOUR EMPLOYER AND RECIEVE AN HOURLY OR SALARY PAY:

  • Pay stubs for all borrowers covering the most recent 30 days
  • W2 forms for all borrowers from the most recent 2 years

IF YOU RECEIVE INCOME FROM A BUSINESS YOU OWN OR HAVE OWNERSHIP INTEREST GREATER THAN 25%:

If sole proprietor and income is reported on the Schedule C of your personal returns:

  • Most recent 2 years of Personal Tax Returns
  • Most recent 2 years of 1099-misc

IF YOUR BUSINESS IS STRUCTURED AS AN S CORPORATION:

  • Most recent 2 years of Personal Tax Returns
  • Most recent 2 years of 1120s Tax Returns
  • Most recent years of K-1’s

IF YOUR BUSINESS IS STRUCTURED AS A PARTNERSHIP

  • Most recent 2 years of Personal Tax Returns
  • Most recent 2 years of 1065 Tax Returns
  • Most recent years of K-1’s

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IF YOU RECEIVE SOCIAL SECURITY OR PENSION INCOME:

  • Award letter from SSA or pension provider
  • Most recent 2 years of 1099-SSA for Social Security or 1099-R for Pension
  • Most recent 2 years of personal Tax Returns

IF YOU OWN PROPERTIES OTHER THAN THE ONE YOU ARE PURCHASING:

  • Recent mortgage statement
  • Homeowners Insurance Declaration pages (all)
  • Recent years Property Tax Bill
  • Recent HOA bill statement or coupon (if applicable)

IF YOU RECEIVE INCOME FROM THE OTHER PROPERTIES YOU OWN:

  • Most recent 2 years of personal tax returns
  • signed lease agreement

if this is a new rental property:

  • copy of security deposit check
  • bank statement showing the security deposit check was deposited to your account

ASSET DOCUMENTATION

  • Bank statements covering the most recent 60 days containing all pages, even if the page is blank. (A printout of the transaction history from your online account isn’t acceptable per underwriting guidelines unless it accompanies an actual statement and the reporting periods are consecutive.)
  • Retirement account statement covering the most recent 60 days if applicable

IF THIS IS A REFINANCE LOAN:

  • Homeowner insurance declaration page of the current insurance policy for subject property
  • Previous survey for the subject property
  • Previous owners Title Policy, including schedules A and B for the subject property

Do You Have More Questions?

Call or Text us now at 321-567-1202! 🏡

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