I. Initial items needed for a PURCHASE transaction pre-approval:
Most recent 2 years Federal Income-Tax Return (all pages), most recent pay stubs covering 30 days and two years of most recent W-2 form(s), if employed. If you receive annuity or retirement income reported on Form 1099, provide the last 2 years of 1099 forms. If partnerships or corporations are shown on Schedule E of your federal income-tax return, please provide most recent two years of Federal Income Tax Returns (all pages) for those entities of which you own 20% or more, and the most recent K-1 form(s) for those of which you own less than 20%. If you receive retirement or Social Security income, copy the most recent Benefit or Award letter. If you receive a monthly retirement income payment advice in the mail, provide a copy of the most recent one that you received.
Most recent two consecutive liquid asset statements showing all funds needed for the down payment and closing costs. Please include all pages of multi-page asset statements. If you are receiving a gift for any of these funds, please provide an explanation of who is giving the funds and how much they are giving.
If you own real estate other than the home you are purchasing, provide the name and phone number for your insurance agent for all properties owned and the contact information for the homeowner’s association if you own a home for which the insurance is handled by the association.
If you are buying an investment property, please provide two consecutive asset statements (all pages) showing enough money to cover six months of payments (loan payment, taxes, homeowner’s dues, if any, and property insurance) for all rental properties owned including the new property being purchased. Retirement account statements may be acceptable as reserve funds.
If not all documents and information are available, provide as much as possible.
II. Initial items needed for a REFINANCE application:
Most recent 2 years Federal Income-Tax Return (all pages), most recent pay stubs covering 30 days and two years of most recent W-2 form(s), if employed. If you receive annuity or retirement income reported on Form 1099, provide the last 2 years of 1099 forms. If partnerships or corporations are shown on Schedule E of your federal income-tax return, please provide most recent two years of Federal Income Tax Returns (all pages) for those entities of which you own 20% or more, and the most recent K-1 form(s) for those of which you own less than 20%. If you receive retirement or Social Security income, copy the most recent Benefit or Award letter. If you receive a monthly retirement income payment advice in the mail, provide a copy of the most recent one that you received.
Most recent two consecutive checking or savings account statements (all pages if a multi-page statement), relatively recent mortgage payment coupon for loan(s) being paid off, relatively recent mortgage payment coupon showing loan number for any credit line that you may have secured by your home (which normally will have to be paid off and closed).
If you own rental properties and are refinancing one of them, please provide asset statements (all pages) showing enough money to cover six months of payments (loan payment, taxes, homeowner’s dues, if any, and property insurance) for all rental properties owned. Retirement account statements may be acceptable as reserve funds.
Provide the name and phone number for your insurance agent for all properties owned and the contact information for the homeowner’s association if you own a home for which the insurance is handled by the association.
If not all documents and information are available, provide as much as possible.
