Home Loan – Eligibility
In your initial interview, your loan officer will give you a good idea of the documentation that you and your co-borrower, if applicable, will likely need to provide. Here is a list of items you’ll typically need after you apply for your home loan:
TO BE PROVIDED BY ALL BORROWERS:
____ Valid driver’s license or other government-issued photo identification, date of birth, and social security number
____ Most recent statements for the last two months on all checking, savings, stock, mutual funds, IRAs, or other liquid asset accounts
____ Accurate addresses and landlord/mortgage company information for past two years
____ Loan information, including balance, monthly payment, and any rents collected for other real estate owned, if applicable
____ Copy of fully executed sales contract, if available
____ Copy of canceled earnest money check, if purchasing
____ Funds for credit report and appraisal
____ Documentation on any additional source of income to be used in qualifying, if applicable
TO BE PROVIDED BY SALARIED BORROWERS:
____ Pay stubs for the past 30 days
____ W-2 forms for the past two years, and full federal tax returns for the past two years, including all schedules
TO BE PROVIDED BY SELF-EMPLOYED BORROWERS:
____ If self-employed or you own more than 25% of a business, copies of business tax returns for the past two years, including all schedules
____ Copies of previous 2 years’ corporate/partnership tax returns if 25% or more of company is owned
____ Year-to-date profit and loss statement and balance sheet
TO BE PROVIDED, DEPENDING UPON YOUR SITUATION:
____ If you have been divorced, a copy of final decree— particularly the financial settlement page, including alimony, child support, and the division of liabilities and assets
____ Documentation pertaining to any resolved or unresolved credit disputes you may have had
____ Certificate of Eligibility and DD-214 or Statement of Service, if applying for a VA loan
____ If previous bankruptcy, a copy of all bankruptcy papers with a copy of discharge
____ A copy of the settlement statement if you sold property in the last three months
____ Survey of your home, if refinancing a loan
*Depending upon your situation, we may require more or less documentation.
