|
|
In order to expedite the loan approval process, you should take the following materials to your first meeting with your loan officer on your purchase mortgage.
Please call for refinance loan document list.
1. Fully ratified sales contract and addenda.
2. Most recent original pay stubs, covering 30 day period, showing your name and current and
year to date earnings (all applicants).
3. Original W2's for past two years.
4. For self employed and commissioned borrowers -- two most recent years complete
federal personal and business tax returns. Year-to-date profit loss dated within the past 90
days.
5. Current one year lease on any investment properties.
6. (Pay Stubs or Annual Award Letters) as verification of any additional income needed to qualify.
7. Original bank statements covering most recent three month period.
8. If source of down payment is a gift, gift letter and proof of donor's ability to give (bank
statement from donor).
9. Child care statement (VA loans).
10. Divorce decree, separation agreement, and/or child support order if applicable.
11. List of all credit debts, including account numbers, balances and monthly min. payments.
12. Name, address and phone number for current landlord, if renting.
13. Statement of Service from Command Disbursing Office (VA loans), or DD214 if retired
military. (If w/in 1 yr. of enlistment end date, have them note that you are eligible to reenlist).
15. If Bankruptcy discharged within last 7 years, copy of bankruptcy discharge including full
creditor list.
Once the underwriter has reviewed your application, additional documentation or information may be required before your loan can be fully approved.
The sooner you provide the documentation requested, the sooner your loan will be approved to close. Please remember that your contract has an absolute deadline for the loan to be completed. Failure to expediently supply all documentation requested by the mortgage company may put you in breach of contract.
|
