Document Checklist
What Documents Do You Need
All documents serve as evidence for statements made in a mortgage application. You need to upload a document from this list if:
1) It provides evidence to support a statement made on the application.
2) It serves to improve or explain a negative factor for underwriters.
Your identity is evidenced by uploading photo identification and attending a Zoom meeting. Your income is evidenced by uploading tax returns, w2s, 1099s, pay stubs, or profit and loss statements. Account statements evidence your assets.
Evidence builds a file, so collect these documents as quickly as possible.
Verification of Identity
Submit one option from below
Driver's License or State ID
US Passport
Resident Card
Work Visa
Social Security Card
ITIN
Income Verification
Paystubs for Last Two Months
W-2 Forms For the Last Two Years
Tax return for the Last Three Years
Child Support/Alimony
- Proof you have received it for the past 3 months
- Divorce Decree/Separation Agreement stating the amount received &proof of continuation for at least 3 years
- Alimony, child support, or separate maintenance income need not be included if it’s not considered income available to repay the loan.
Social Security, Disability, VA Benefits
- Copy of the award letter from the agency/organization
- Certificate of Eligibility
- DD214 (National Guard, Reserve, Veteran, or surviving spouse)
- DD220 (National Guard)
- NGB Form 22 (if discharged)
- NGB Form 23 (if discharged)
- Most recent two months’ bank statements showing receipt in your bank account
- Active Duty: Your full name, Social Security number, Your date of birth,The date you entered duty, The duration of any lost time, and The name of the command providing the information
Rental Income
- Fully Executed Rental Agreement
- Rent Roll or
- Rent Ledger
Trust Income
Copy of Trust Agreement
Sources of Funds/Down Payment
Verification of Assets
Bank Statements
- Bank statements for the last 2 months, including savings, checking and investment accounts
- You must show assets to cover the down payment, closing costs, and reserves. Include All pages for each statement. If the statement says Page 1 of 5, include all 5 pages- this will be a requirement in underwriting.
- Provide another copy when Earnest Funds clears your account, including the statement reflecting the check has cleared. Send both sides of the canceled check or Wire Confirmation.
Stocks and Securities Statements
Stock and securities account statements for the last three months
Hud Settlement Statement
HUD settlement statement if using funds from the sale of property
Sale of Asset
Proof of ownership, proof of sale, and proof of funds transfer
Gift Funds - If Used for down payment
- A gift letter, evidence of transfer, and sometimes evidence of withdrawal
- Provide a copy of the Wire Confirmation or Both Sides of the Canceled Check.
- NOTE THAT THE CHECK/WIRE CONFIRMATION NEEDS TO SHOW THE DOWNER’S NAME AS LISTED ON THE GIFT LETTER
- The updated Bank Statement/Transaction Summary that shows the gift has cleared your account on the account into which the gift was transferred.
Self Employed Income
For any company you have 25% or more ownership we will need
Tax Returns
Signed completed tax returns for the past two years, including personal, partnership and corporate, if applicable; please include all schedules
P and L Statement
Business profit-and-loss statement year-to-date for the current year if more than three months have passed since the end of the tax year
Current Balance Sheet
Copies of last two years of business license
Purchase or Sales Contract
Purchase Contract
If buying a home
Sales Contract
If selling a home and using funds from sale as cash to close
Payment History Related to Current Residence or proof of credit resolutions
Call to see if necessary for your file. Documents are typically needed for rare situations.
Rent/Mortgage Payment
- Canceled rent or mortgage payment checks for the past 12 months, if not available on a credit report
- Mortgage Statement HOA payment slip (if applicable),
- Tax Bill (if not escrowed as part of mortgage)
- Insurance Declarations Page- showing premium amount (if not escrowed as part of mortgage)
Copy of land contract, if applicable
Bankruptcy/Consumer Credit counseling proof, if received
Additional information, if applicable:
Divorce decree
- Submit only if qualifying on income related to divorce or if you are paying alimony.
- Do not submit if it doesn't matter.
Explanation of Discrepancies in Credit
Important Process Contacts
Name, Phone #, and Email Address of the other key stakeholders in the process if available to you at the time of application; This information can be uploaded to your client portal.
Realtor
Title Company/Attorney
Insurance Agent
Condo Association (if applicable).
Employer Contact
Employer Contact - For Verification of Employment (Could exclude self-employed borrowers with Greater than 25% ownership).
Accountant
Self Employed Borrowers Only
All Documents can be uploaded as PDF's into the client portal created by the "Begin Mortgage Application" link on the home page. If you have any questions regarding the items listed below and how they apply to your particular transaction, please get in touch with me. I look forward to the opportunity to work with you!
Lender List
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