Documents required vary from loan to loan, but generally the following are required, often for up to two years back:
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- Personal identification – current driver’s license for each applicant. Also Green Card(s) if applicable
- Most recent 30 days of consecutive pay stubs
- Most recent two years W-2’s
- Most recent two years personal tax returns – with all supporting schedules
- Most recent two years business tax returns for all business in which the applicant(s) owns 25% or more of the company– with all supporting schedules
- All K-1’s for the two most recent years
- Most recent two years of 1099’s – for social security, pension, annuities, etc.
- Most recent Social Security Benefits letter
- Most recent two consecutive checking, savings and investment account statements – with all pages
- Employment history for the last two years
- Residency history for the last two years with name and contact information for the landlord(s)
- Purchase contract that has been executed by all parties – with all pages and addendums
- Bankruptcy discharge and possibly the actual filing – with all pages
- Divorce decree and property settlement agreement – with all pages
- All relevant documentation in connection with a foreclosure, short sale or Deed in Lieu of Foreclosure
- Owner’s title insurance policy on subject property (only for refinancing)
- Prior survey of subject property (only for refinancing)
- Most recent hazard/windstorm and/or flood insurance declaration page(s) on the subject property (only for refinancing)\Most recent mortgage statement(s) on loan(s) to be paid off on subject property (only for refinancing)
Note: Depending on the loan program you select, more of less documentation may be required.