Required Documentation

Income

  • IRS Form 4506-T — Request for Tax Transcript, completed, signed and dated
  • Pay stubs covering the last 30 days with year-to-date information included (for all jobs and applicants)
  • W-2s for the past two years
  • Federal tax returns (1040s) for the past two years
  • Written explanation if employed less than two years or employment gap exists within the last two years

Assets

  • Bank or other financial statements — Most recent two months’ statements for all accounts listed on the application; all pages must be included, even if blank (i.e., if your statement indicates 6 pages are included, we need all 6 pages regardless of relevance)
  • Source of funds documentation for any large deposits on bank statements (other than standard payroll deposits)

Credit

  • Credit explanation letter for late payments, collections, judgments or other derogatory items on credit report
  • Court order or final decree for each debt due to legal action (i.e, child support)
  • Bankruptcy with discharge papers, if indicated on credit report

Self-employed borrowers

  • Federal tax returns (personal as well as business) — complete copies for the most recent 2 years
  • Year-to-date profit and loss statement
  • List of all business debts

Other

  • Copies of driver’s license and social security card
  • Hazard (Homeowner’s) insurance information including agent’s name and phone number

For Purchase Transactions

  • Fully-executed purchase contract (signed by all parties)
  • Copy of cancelled earnest money check (when available) or bank statement showing money withdrawn

For Refinance Transactions

  • Mortgage account information (copy of mortgage loan coupon/statement)
  • Home equity line or loan account information (copy of coupon/statement)(if applicable)
  • Homeowner’s insurance policy information (copy of declarations page)
  • Copy of recorded Warranty Deed