In general, the documentation you will need includes:

•     Check for application fee

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Property Information (if you already have a contract on a house)

•     Purchase Agreement.

•     Copy of legal description and MLS sheet.

•     If you are selling your current home, copy of listing contract.

•     If you have sold your current home, copy of settlement statement (HUD-1).

 

Income & Assets

•     Pay stubs for the last 30 days

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For the past two years:

•     Names and addresses of each employer.

•     W-2s

•     Statements for each bank, mutual fund, and/or investment account for the last three months.

•     Estimated value of personal property and furniture.

•     If you have made any large deposits to your accounts:

•     Explanation and source for deposit.

•     If large deposit was a gift:

•     Signed gift letter (lender can supply).

•     Copy of gift check.

•     Copy of deposit receipt.

 

If you own more than 25% of a business:

•     Corporate or partnership tax returns.

 

If self-employed:

•     Tax returns for the last three years (with schedules).

•     Year-to-Date Profit and Loss Statement prepared by an accountant.

 

If you own rental property:

•     Tax returns for the last two years and current rental agreements.

 

If you are retired:

•     Pension Award Letter

 

If you receive Social Security:

•     Social Security Award Letter.

 

If you are counting child support as income:

•     Copy of divorce settlement.   

•     Copy of twelve months of cancelled child support checks.

 

Debts:

•     Names, addresses, account numbers, balances and monthly payments on all current loans.

 

Explanation of credit report anomalies, including:

•     Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.   

•     Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

 

VA Loans:

•     Copy of DD Form 214, Report of Separation.

 

Miscellaneous:

•     Photo ID and proof of Social Security number.   

•     Residence addresses for the past two years.

•     If applicable, a copy of your divorce decree.

•     If you are not a citizen, a copy of the front and back of your green card.

 

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