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    Things you need to apply for a mortgage

    When you are ready to apply for a home loan or a refinance of your current loan, you’ll need to gather documents that will give your loan officer information on your financial situation in order to process your application. You may need to provide some or all of this documentation during the application process. If you apply online or over the phone, you’ll need to either fax, email or mail these documents.

    Below is a list of some of the items we usually need you to provide. This is not a comprehensive list but it will get us started with processing your loan.

    Income verification:

    • Pay stubs for the last 30 days
    • W-2 forms for the last two years
    • Child support/alimony
    • Awards letter for Social Security and 1099 for disability income
    • When income is derived from rental property, commission, interest or other sources of income besides salary, tax returns may be required

    Sources of funds/down payment:

    • Bank statements for the last three months, including savings, checking and investment accounts
    • Stock and securities account statements for the last three months
    • HUD settlement statement if using funds from the sale of property
    • For gift funds — a gift letter, evidence of transfer and sometimes evidence of withdrawal

    If you are self-employed:

    • Signed completed tax returns for the past two years
    • Business profit-and-loss statement year-to-date for current year if more than three months have passed since the end of the tax year
    • Current balance sheet
    • Copies of your business license

    Payment history:

    • Cancelled rent or mortgage payment checks for past 12 months, if not available on credit report
    • Child support/alimony
    • Bankruptcy/Consumer Credit counseling proof, if received

    Additional information, if applicable:

    • Purchase agreement, including legal property descriptions and any addendum
    • Divorce decree
    • Explanation of discrepancies in credit

    It may seem like a lot of work, but these documents help us determine how much financing you may qualify for. Plus these are all items you should be able to readily access. As always, if you have any questions or need help, I am just a phone call or an email away.

    If you’re ready to apply for home financing, let’s get started today! Call to set up an appointment and determine which documents we’ll need at our initial meeting.