Common Documents Needed for Mortgage Loans
- Click Here for Salaried/Wage-Earner Employees
- Self Employed / 1099 Borrowers or receive more than 25% of income from Commisions
- Retired / Fixed Income Borrowers
- Click here to download a PDF of these lists
Salaried/Wage-Earner Employees
- Most recent Paystubs from within the last 30 days
- 2006/2007 W2 forms year end statement from employer (Not your 1040 tax return)
- 2 Months of most current Complete bank statements (all pages) on all accounts.
- 2 Valid forms of ID Copy(Driver’s License, Social Security Card, Passport, Voter’s registration Card)
- Most recent Mortgage statement
- Quarterly statement for 401 K, IRA, Money Markets Mutual Funds, Stock Brokerage accounts, etc.
- Settlement Statement from purchase of home
- Note(May say Adjustable Rate Note all pages in closing paperwork from Purchase)
- Letter of Explanation for past derogatory credit
- Letter of Explanation for credit inquiries within the last 90 days
TX, FL, NM also may require previous survey.
Self Employed / 1099 Borrowers or receive more than 25% of income from Commisions
- 2006 and 2007 Tax returns all schedules (if you have 1099s and w2s those as well)
- Home Owner’s Insurance Declarations Page
- Recent Mortgage Statement
- Doing Business As or other business license that is current and shows 2 years in business
- Proof of assets in the form of 2 months bank statements, Quarterly statement on 401K, IRA, other accounts
- Copy of Settlement statement and Note from closing of last mortgage
- Canceled checks for 12 months on any debts paid by the business on credit
- 2 valid form of ID (Driver’s License, Social security card, passport, voter’s registration card, etc.)
- Letter of Explanation for past derogatory credit
- Letter of Explanation for credit inquiries within the last 90 days
TX, FL, NM also may require previous survey.
Retired / Fixed Income Borrowers
- 2 most recent bank statements all pages showing deposit of retirement / SSI income
- 2006/2007 1099 forms for Retirement and Award Letters for SSI or year end statement from Social Securit Administration
- 2 Valid forms of ID Copy(Driver’s License, Social Security Card, Passport, Voter’s registration Card)
- Most recent Mortgage statement
- Quarterly statement for 401 K, IRA, Money Markets Mutual Funds, Stock Brokerage accounts, etc.
- Settlement Statement from purchase or last refinance of home
- Note(May say Adjustable Rate Note all pages in closing paperwork from Purchase)
- Letter of Explanation for past derogatory credit
- Letter of Explanation for credit inquiries within the last 90 days
TX, FL, NM also may require previous survey.
ALL PROGRAMS ARE SUBJECT TO UNDERWRITING TERMS AND CONDITIONS WHICH CAN MEAN MORE PAPAERWORK THAN LISTED HERE. THIS IS JUST A GENERAL LIST PROVIDED FOR YOUR CONVENIENCE.
