In general, the documentation you will need includes: |
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Be prepared to pay the cost of an appraisal, after you've given us your intent to proceed with a mortgage loan. (Normal appraisal costs are typically between $475-$600, depending on the property and appraisal requirements.) |
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Property Information (if you already have a contract on a house) |
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Purchase Agreement/Real Estate Contract. |
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Copy
of legal description and MLS sheet. |
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If you are selling your current home,
copy of listing contract. |
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If
you have sold your current home, copy of settlement statement (HUD-1). |
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Income & Assets |
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Pay stubs for the last 30 days, for all borrowers. |
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For the past two years: |
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Statements for each bank, mutual fund, and/or investment account for the
last three months. |
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If you have made any large deposits to your accounts that are not income-related: |
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(Note: "large deposit" is determined by loan program, borrower's income & savings, etc.) |
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If you own more than 25% of a business: |
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If
self-employed: |
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If you own rental property: |
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If you are retired: |
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If you receive Social Security or other government disability benefits: |
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If you are counting child support as
income: |
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Debts |
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Names,
addresses, account numbers, balances and monthly payments on all current
loans. |
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Explanation of credit report anomalies,
including: |
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VA Loans |
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Copy of DD Form 214, Report of
Separation. |
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Miscellaneous |
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Photo ID
and proof of Social Security number.
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Residence addresses for the past two years, plus name/address of landlord (if renting).
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If applicable, a copy of your divorce decree.
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If you
are not a citizen, a copy of the front and back of your
green card (permanent resident card).
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