Documents needed to complete loan application

• Copy of Purchase Sales Contract or Offer to Purchase and all addenda- Signed by the buyer and seller.
• Property Information Listing Sheet or Multiple Listing Service Sheet
• Tax returns – Previous two years; personal federal income tax returns and all schedules if you are:
• self-employed
• a tradesman
• employed in a family business
• receiving all or part of your income from bonus, commission, partnership or trust income

Or if you:
• Own rental property
• Have income from an otherwise non-verifiable source, such as corporate ownership, installment sales and tips

• Employment history – Name and address of employer)s) for the last two years, dates of employment and income. Explanation of recent gaps in employment, if applicable.
• Social Security Number(s) – For both borrower and co-borrower(s).
• Checking and savings accounts – Depository institutions’ names and addresses, account numbers and balances,. Depositories include banks, credit unions and savings banks. Passbooks and bank statements from the previous three months may be required.
• Stocks, bonds, investment accounts – Name and address of broker and previous three months’ statements or copies of the stock certificates. A list of serial numbers and issue dates may be acceptable for verifying bonds.
• Life insurance policies – Name of insurance company, policy number, face amount and approximate cash value of each policy.
• Retirement plan – Approximate value of vested interest and copy of most recent statement.
• Automobiles owned – Make and year of each automobile owned and current market value. (Evidence of clear title may be required if owned free and clear.)
• Other assets – Estimate of the market value of other asset; i.e., furniture or personal property.
• Credit information – For each open account, including credit cards with a zero balance, provide:
• Creditor Name
• Address
• Account number
• Payment amount
• Current balance
• Date paid in full and copy of statement with zero balance (if applicable)

You may also be requested to provide3 information regarding any application you have made for credit within the last 90 days prior to making application for your mortgage loan.

• Self-employed borrower – Previous two years; and current year-to-date Profit & Loss Statement and Balance Sheet.
• Divorced or separated borrower – Copy of divorce decree or maintenance agreement, along with any amendments and a 24-month payment history of alimony/child support payment, if such payments are provided or received and are needed to qualify.
• Overtime income – W-2s from the previous two years if overtime income will be used to qualify.
• Other income – Documentation of the income received for the past 12 months if such income is used to qualify (for example, interest or dividend income).
• Renters – Landlord’s name and address and previous 12-month rental payment history. Rent receipts or cancelled checks are acceptable.
• Real-estate owned - Name and address of your mortgage lender, account number and most recent yearend statement. In addition, if the real estate owned is:
  • currently rented – a copy of the current lease or rental agreement for each unit.
  • Listed for sale – a copy of the listing agreement
  • Sold, but not closed – a copy of the sales contract and escrow number
  • Sold, closed and the proceeds from the sale will be used fro the down payment – a copy of the HUD-1 Uniform Settlement Statement
• Gift letters – If part of your source of down payment or closing costs is from a gift, a signed letter is needed from the donor to verify that you are not required to repay the funds.
• Construction/permanent loan – Signed construction contract with cost breakdown and builder plans
• Affordable housing – Loans underwritten using liberalized guidelines under affordable housing programs may require:
• Counseling certificate and /or
• Inspection certificate or equivalent