In order to get you a Pre-Approval, which is a higher standard than a Pre-Qualification and what your Realtor will ultimately be seeking, there are certain documents that we will request to verify that the information that you provided to us is accurate, can be proven, and is calculated in the same way a mortgage underwriter would utilize. This Information will help us to evaluate your potential application for a mortgage loan.
The following documents may be requested to obtain new mortgage loan:
- Proof of ID
- Past two (2) years W-2 statements
- Pay Stubs covering the last (30) thirty days
- Two most recent monthly bank statements
- Most recent transaction summary of 401K, IRA, or Mutual Fund Accounts
- Photocopies of any stocks or certificates of deposits
- A letter of explanation for any known credit problems
- If you are currently renting….either 12 months canceled rent checks or the name and address of your current landlord
Also, the following documentation is also generally required.
For a refinance:
- Your most recent mortgage statement
- A copy of the deed, and most recent tax bill
For a Purchase:
- A signed purchase contract
- Realtor contact information
- Condo Association contact information (if purchasing a condo)
For a VA Loan:
If you are divorced:
If you are self employed, employed in sales, paid by commission,or own rental real estate:
- Two (2) years signed personal tax returns - including all schedules
- If self-employed through a corporation, last two years corporate returns as well as a year-to-date profit and loss statement and balance sheet
- If your rental property is in the name of a business, such as an LLC, we will also need your Articles of Organization, a Certificate of Good Standing, an Operating Agreement, your Business Tax ID (EIN), and various financial documents may also be requested (Business Bank Statements, Business Tax Returns, Profit and Loss Statements, Balance Sheet, Cash Flow Analysis, and/or Documentation of Business Assets)
Different programs require varying amounts of documentation. The loan program you select may require more or less documentation. Please contact us for a free, no-obligation consultation.
