Loan Submission: Paperwork Needed

Please take a look at the list of items below and make sure that you are bringing the exact documentation requested. This way, by carefully following all instructions, you will ensure that your loan is underwritten and processed in a timely fashion.

• The best way to get the documents to us would be to upload them to a secure folder. Please ask your loan officer to create it for you. Another option is to email or fax the documents (your loan officer’s email signature would list his/her fax number). Alternatively, you can bring copies of the documents to our office. If you are bringing copies, please do not staple them or make them double-sided (they will be scanned).
• Note: Please inspect each page of each document to make sure that all items are legible and that no information is cut off

Documents needed:

• INCOME: Paycheck stubs 

  • Covering most recent continuous 30 days of employment
  • If an employer’s name on a paycheck doesn’t correspond to an employer that you listed on your loan application, please bring a short letter of explanation explaining the discrepancy – signed and dated.
    • Examples include parent/daughter companies, recently acquired companies, etc.

• INCOME: W-2 forms for the last two years

  • If you have W2 forms for any jobs not listed on your loan application (even receiving very minor income), please bring a short letter of explanation for each job – listing the employer name, address, phone, type of work and dates of employment, including whether you currently work at that job. Please sign and date the letter of explanation.

• INCOME: Tax Returns

  • Need copies of filed tax returns for the last two years
  • Please bring all pages and sign/date Page 2 of your tax returns – current (today’s) date is acceptable

• INCOME: Human Resources (HR) Information

  • Human Resources Contact: Name/Email address (if available)/Contact Phone Number and Fax
  • For self-employed borrowers, we need the same information for your accountant/CPA (instead of HR)

• ASSETS: Bank Statements

  For all Checking and Savings Accounts (last two months, all pages – even if one is blank)

  • Printouts or screen-prints are not acceptable; we need actual bank statements or PDF files of them
  • If any bank statements have additional people listed as account owners, please bring a short letter of explanation for your relationship to the additional account holder.
  • If there are any deposits over $100 shown on the statement that are not payroll or tax refund deposits – please bring a short letter of explanation for the source of each deposit
  • If there are any transfers from/into the bank account, we would need to see a full bank statement for the account from/to which the money was transferred

• ASSETS: Retirement Account Statements (IRA, 401K)

  • Last official statement (quarterly or semi-annual is acceptable), all pages – even if one is blank
  • If any statements have additional people listed as account owners, please bring a short letter of explanation for your relationship to the additional account holder
  • Any other Asset Statements (Trading Accounts, etc) – please bring most recent official statements

• IDENTIFICATION: Drivers License and Social Security Card

  • If the address on your drivers license doesn’t match your loan application address, please bring a short letter of explanation for the discrepancy – signed/dated

• Home Insurance

  • Contact info for your homeowner’s insurance agent – company name, contact person, phone number and/or email
  • If you want to shop around, we can recommend several local places with great coverage and low premiums
    • Please see our Insurance Resources page for more information

• Do you currently own any real estate?

  • If you currently own any real estate, please bring (for each property owned, including your current home):
  • A copy of your most recent mortgage statement, tax bill (if available) and insurance bill
  • If you own rental properties: all rental leases for all current tenants

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Please check if any of the following items are applicable:

• IF APPLICABLE: a Divorce Decree (all pages, only if paying or receiving child support or maintenance)
  • We need all pages of your final executed divorce decree/separation agreement

• IF APPLICABLE: Gifts for the Down Payment (all of the items below are needed)
  • Gifts can only come from immediate family (parents, grandparents, siblings, aunts/uncles, fiances)
  • A filled out and signed gift letter (please ask your loan officer for a copy)
  • A copy of the gift check and gift giver’s most recent bank statement (all pages) showing available funds
  • A deposit slip showing that the money was deposited into one of your bank accounts.
  • Transaction history for that account, from the end of the last official statement, until the day when a gift check is deposited. OR a bank statement showing deposit of the gift check
  • Transaction history has to be signed and stamped by a bank official (online printouts are not acceptable)

• IF APPLICABLE: Transfer of Down Payment Funds between accounts:
  • If you are going to be moving the down payment funds:
    • From checking to savings or from savings to checking
    • A loan or a cash-out from a 401K or an IRA account
    • Liquidation of stocks or bonds or exercising stock options
  • You would then need to have the following paper trail for the transaction
    • Proof of withdrawal of money from one account (copy of the check or wire, or proof of liquidation of stocks/bonds)
    • Proof of deposit of money into another account (a copy of the deposit slip or wire transaction receipt)
    • For both accounts: Transaction history from the end of the last statement until the day of withdrawal/deposit of down payment funds. Transaction history needs to show withdrawal/deposit of funds and each page of transaction history has to be signed and dated by a bank representative/teller.

• IF APPLICABLE: Retirement Income:
  • Pension Award Letter from the employer for any pension income (can be obtained by calling the employer)
  • Social Security Award Letter (most recent)
  • Two Bank Statements (all pages) showing monthly deposits with matching amounts

If you are Self-Employed / Business Owner / 1099-Contractor:

• These additional items are needed:
  • Business Tax Returns – (last two years, all pages)
  • W-2 forms (last 2 years) if owner pays himself/herself
  • Business Bank Statements, if applicable (last two months, all pages – even if one is blank)
  • Business License
  • Contact information for your CPA/accountant