The following information is usually required during the loan process:
1. Sales contract on the home you are purchasing, if applicable. 2. Employment paystubs for the last 30 days. 3. Last two years W-2's and/or 1099's. Last two years complete Federal Tax returns. 4. Self-employed borrower's (ownership in excess of 25%): last two years complete personal and corporate/partnership tax returns, as well as year to date profit and loss statement and balance sheet. 5. Previous 2 month's statements on all bank, credit union, stocks, and brokerage accounts with documentation showing source of any large recent deposits. 6. Previous quarterly or annual statement on all IRA, Keogh, 401K, Profit Sharing, or Retirement accounts. 7. Copy of divorce decree and/or child support court order & statement, if applicable. 8. Copy of government-issued photo ID for each borrower (both front and back if ID is military).
If you currently own Real Estate:
1. Mortgage account information. 2. Home insurance policy information. 3. Home equity account information, if applicable. 4. If your property is in trust, a copy of your Long Form Trust document(s).
All of the above items may not apply to your specific situation. However, additional information may also be required. Please use the checklist as a guide.