Documentation Needed For A Mortgage

Lenders will require the following information after you make a loan application:

1. most recent two pay stubs
2. last two years W-2 forms
3. If you're self-employed or a comissioned sales person, lenders will want to see the last two years 1040 tax returns with ALL accompanying schedules.  Sign all copies where you would normally sign the original
4. most recent two months bank statements (all pages), documenting the down payment *
5. most recent two month securities accounts statements.  Lenders will only "credit" 70% of the value of that account
6. most recent account statement for an IRA or 401-k account.  Lenders will only credit 60% of the value of that account.
7. copy of the dicorce decree if you are divorced
8. copy of your driver's license, passport, or social security card (two out of three)

* If you plan to use a gift, from a family member, for the down payment, the documentation needs to be REALLY complete.  We need a gift letter, signed by both the donor and recipient, a copy of the cancelled check (from the gift), and two months bank statements from the donor, documenting that they owned those funds for 60 days, prior to the gift.

PS: If you plan on using a VA home loan benefit, a copy of your Certificate of Eligibility and/or DD-214 will be required