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documents Needed

Borrower Document Checklist

Please fax the following items to: 888.388.8366 or scan and email


Standard Documentation:

  • Copy of photo ID for each Borrower

  • Most recent pay stub’s for each borrower (If bi‐weekly or semi‐ monthly 2 / If weekly 4) or social

  • security/pension monthly benefit letter

  • Most recent W2 statements (last 2 years)

  • Employer HR Contact – See additional sheet

  • Homeowner’s insurance agent Name /Association HOA company and contact number – See additional sheet

  • Current Mortgage statement (s) of all property owned, if you currently don’t escrow we will need tax bill and insurance declaration page for each property not escrowed.

  • Most recent two months of Bank Statements /Asset accounts – (ALL PAGES including any blank pages)



Additional Income Documentation: Self‐employed / Commissioned / Retired/Own Rental Property:

  • Most recent two years Personal tax returns (ALL schedules and statements)

  • Most recent two years Business tax returns (ALL schedules and statements) (if ownership if 25% or more)

  • Most recent two years 1099’s (if applicable)

  • Most recent two years K1 statements (if applicable)

  • Disability or Social Security Awards letter (Retired and or disabled)

  • Verification of income from Pension, 401k Distributions, IRA distributions, Trust distributions

  • If you receive Social security, disability or other distributions please include the most recent two months bank statements of the account where the deposit is made



Other documentation if applicable:

  • Purchase agreement / Contract

  • Ernest money deposit check (Copy Of Cancelled Check From Bank)

  • Divorce Decree

  • Court order for child support

  • Bankruptcy Discharge and all associated paperwork

  • Most recent quarterly or monthly statement from your 401K, IRA, Brokerage account, cash managements account

  • Copy of Trust (If the property is currently titled in a trust)

  • Copy of DD214 and/or Certificate of Eligibility for Veterans

  We have put together a comprehensive list of documents in a pdf form that you can download and/or print out. The list also includes important underwriting guidelines to understand regarding your loan documentation. Click the button below.


LIST OF DOCUMENTS NEEDED


** Important notes that may apply to your loan**
Once we receive the requested documentation above additional requirements may follow. Please understand that we make every effort to request all of the necessary documentation upfront to ensure an accurate and quality loan approval. If you have any questions regarding the requested documentation or any requirements that may follow please contact your loan officer immediately. For your information we have also included a detailed explanation of how the requested documents may be used in connection with your loan and the basic underwriting requirements for each document.




Standard Documentation:

  • Copy of photo ID for each borrower

  • Most recent 30 days of paystubs for each borrower (NOTE: if paid bi-weekly or semi-monthly 2 stubs/if weekly 4 stubs or social security/pension provide a copy of the monthly benefits letter)

  • W2 statement for the last 2 years

  • Employer HR Contact to include name, phone number and email address – see additional sheet

  • Homeowners Insurance Agent to include name, phone number and email address -- see additional sheet

  • Homeowners Association information to include name, phone number and email address –see additional sheet

  • Current Mortgage Statement(s) on all properties owned. If you do not escrow for your taxes and insurance on properties owned you will need to provide a copy of your current Homeowners Insurance policy and Tax Bill.

  • Most recent two (2) months of Bank statements/Asset accounts --ALL PAGES even if blank as this is required by the lender

  • Most recent monthly/quarterly statements for your 401k, IRA, Brokerage Account, Cash Management NOTE: if monthly statements we will need your last two(2) months of statements all pages even if blank



Additional Income Documentation: Self‐employed / Commissioned / Retired/Own Rental Property:

  • Most recent two (2) years Personal tax returns with all schedules and statements

  • Most recent two (2) years Business tax returns with all schedules and statements if more than 25% ownership in the business

  • Most recent two (2) years of K1’s statements (if applicable)

  • Most recent two (2) years of 1099’s (if applicable)

  • Disability or Social Security Awards letter (if retired or disabled)

  • Verification of income from Pension, 401k Distributions, IRA Distributions, Trust Distributions. Must include the bank statement of the account to show the deposits being made for the last 2 months



Other documentation if applicable:

  • Survey and Owners Title Policy –if refinancing a property in Florida

  • FHA/VA Streamline Loans –provide a copy of the Previous Note, this is a 2-7 page document that will be in with your closing documents that you received when you closed your current mortgage

  • HARP Loan – copy of your Previous Note and Closing Statement, the Note is a 2-7 page document that will be in with your closing documents that you received when you closed your current mortgage

  • Divorce Decree

  • Court order for child support

  • Bankruptcy Discharge and Filing NOTE: all pages even if blank

  • Short Sale and/or Foreclosure paperwork

  • Trust Agreement if property is currently titled in a trust

  • Copy of the DD2014 and/or Certificate of Eligibility for Veterans




  We have put together a comprehensive list of documents in a pdf form that you can download and/or print out. The list also includes important underwriting guidelines to understand regarding your loan documentation. Click the button below.


LIST OF DOCUMENTS NEEDED


** Important notes that may apply to your loan**
Once we receive the requested documentation above additional requirements may follow. Please understand that we make every effort to request all of the necessary documentation upfront to ensure an accurate and quality loan approval. If you have any questions regarding the requested documentation or any requirements that may follow please contact your loan officer immediately. For your information we have also included a detailed explanation of how the requested documents may be used in connection with your loan and the basic underwriting requirements for each document.




Important underwriting guidelines to understand regarding your loan documentation

Pay Stubs:

  • Must be most recent and dated within 30 days of closing.

  • Must include employer name and address, employee name and address
    - If paid bi-weekly we will need 2 stubs for each borrower, If semi monthly we will need 2 for each borrower, if paid weekly we will need 4 for each borrower

  • Must include current pay, YTD pay and reflect deductions for taxes

Tax returns:

  • Must have all schedules and all pages including any statements associated with any schedule and any blank pages that are numbered

  • If there is W2 income on line 1 of the 1040 we will need all W2 statements to account for all of the W2 income. For situations where only one individual on a joint tax return is applying for a loan, we will still need all W2’s to separate the income

  • A self-employed Borrower's average monthly income must be based on a review of the Borrower's complete individual federal tax returns (Form 1040) including W-2's and K-1's (if applicable), as well as the complete business tax returns if ownership is 25% or more.

Copy of ID:

  • ID must be clear and legible

  • It is best if you can enlarge the copy and lighten the tone

Bank statements:

  • Bank statements must include ALL pages, front and back, including blank pages numbered on the page (example pgs 1 of 6, need all 6 even ifthe last page is blank)

  • Do not alter the statement, white out or black out the account numbers or any other information on the page

  • All deposits on the statement will need to be explained if not easily identifiable (example: direct deposits from payroll will state the source, a cash deposit will not state the source and need explanation)

Other Assets:

  • To verify assets in a 401K, IRA or other retirement account we will need the most recent monthly/quarterly statement. We will require all pages including numbered blank pages

  • Do not alter the statement, white out or black out the account numbers or any other information

  • If you are liquidating the asset for closing funds we will need to prove a complete paper trail
    - Paper trail – Most recent statement showing current balance, proof of the withdraw using a copy of the check or wire transfer and proof of the deposit in to an account documenting the deposit with a deposit slip and statement or transaction history

  • If you are liquidating funds from a retirement account we will need to verify the terms of the account. The terms will explain the ability to access the funds, the penalties associated and repayment terms if any. If you have an account administrator they will have this information

Other Documents:

  • Purchase contract or agreement – all pages must be signed and initialed where expected, must include all addendum’s if applicable and include all pages including blank numbered pages

  • Ernest money check – Must show front and back and provide proof the funds are cashed/deposited into an account. We can verify this using a bank statement showing the check was cashed, copy of the returned check or a letter from the escrow company stating is has been deposited.

  • Divorce decree – must have all pages and show the completion date

  • Child support – as a liability must show how much is owed and for how log. We may be required to document the age of the dependent using a birth certificate

  • Child support as income – we must show the court order, show receipt of the deposit with a bank statement and document that it will continue