What documentation will be needed for your loan application?

Below you will find a list of some of the documentation that will be needed for your loan application. Special circumstances may require additional documentation, but this list is a good place to start.

For all loans:

¨ Check for credit report processing ($25 for one borrower/$35 for two borrowers)
¨ Photo ID for all borrowers
¨ Social Security Number, for borrower and co-borrower (if applicable)
¨ Employment history for the last two years, including employment dates, addresses, salary.
¨ Residence addresses for the past 2 years
¨ Completed online application by both the borrower and co-borrower  

If you're buying a home:

¨ Purchase sales contract or offer to purchase and all addenda

¨ If a source of your down payment is a gift:

Completed Gift Letter (ask us for a copy of the form)

Gift funds will be verified in both the donor and recipient's accounts.

Note: Not all loan programs allow gifts to be part of your down payment.

¨ If you've sold your home but not closed:

A copy of the sales contract

¨ If you've sold your home, closed, and you will use the proceeds for your new down payment:

A copy of the Settlement Statement

Asset Documentation:

¨ Check and Savings Accounts

60 days history (must have all pages for each statement)

¨ Investment Accounts and Retirement Accounts

o  60 days history (must have all pages for each statement)

Income Documentation:

¨ If you are a W-2 employee(i.e. you get a regular pay stub)

Pay stubs for the last 30 days

W-2s for the last two years
Most recent tax return

¨ If you're self-employed (or own more than 25% of a business):

Two years tax returns, both company and personal if separate.

All K-1 forms (if applicable)

Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed and dated by you

¨ If you receive retirement income

Pension Award Letter

Social Security

¨ If divorced or separated

Complete executed divorce decree and/or settlement agreement

If you are using support payments as qualifying income, be prepared to provide 6 months canceled checks or bank statements reflecting support deposits.

There may be additional documentation requirements if you have income from other sources that will be used for qualifying (ex: commission, rental property, or interests/dividends).

If you own other real estate, please provide the following for each property:

¨ Mortgage statements
¨ Insurance policy showing the premium
¨ Tax bill
¨ Proof of HOA/Condo fee (if applicable)