Income information for W2 borrowers:

  • 30 days pay stubs with year-to-date information for all jobs and for each borrower
  • Federal tax returns for the past two years (1040’s)
  • W-2s for the past two years
  • Written explanation if employed less than two years or gap in employment in last two years

Income information for self-employed borrowers:

  • Last 2 years’ complete federal tax returns (both personal and business returns). Please include K1s
  • CPA contact information
  • Business license if available for last two years. If registered on Secretary of State we can use the certificate of good standing to prove your two year history

Asset information:

  • Explain to us up front which accounts will be used to get the deal closed and we will let you know what needs to happen and make the process as easy as possible

Credit Information:

  • If applicable, credit explanation letter for any late payments, collections, judgments or other derogatory credit items

Real Estate information:

  • Address of all properties owned
  • Most recent mortgage statement for all mortgages
  • Current homeowner’s insurance agent’s info for all properties. If available provide proof of yearly premium
  • Current year’s property tax information for any properties
  • Most recent HOA bill for any property

Other information:

  • Current address
  • If you’ve lived less than two years in your current address, a list of all residential/mailing addresses over the past two years
  • For each asset listed on the application, all pages (even if blank) of the account statements from the past two months (Example: checking account, savings account, CDs, money market accounts, IRA, 401k, etc.). Statements should have your name, address, and account number. Online screen shots are not acceptable in most cases
  • Documentation for any large deposits outside payroll or gift fund deposits shown on asset statements. Fannie Mae now considers any deposit greater than 50% of gross monthly income as large but underwriters have the discretion to ask us to source any deposit
  • If any creditor has recently pulled credit or pulls credit during the financing process we will have to explain why they pulled credit and if any new debt was incurred. If new debt was incurred the minimum monthly payment will have to be included in your debt to income analysis
  • Copy of Driver’s License
  • Copy of Social Security Card. Needed on government loans
  • Name, address and phone numbers for all employers over the last two years
  • If applicable, provide copy of dissolution of marriage, separation agreement, child support orders
  • If applicable, complete Bankruptcy papers including discharge papers – also provide documentation supporting circumstances leading up to the bankruptcy, if able
  • If applicable, credit explanation letter for any late payments, collections, judgments or other derogatory credit items
  • If refinancing and your current second mortgage is staying in place please provide a copy of the heloc agreement or promissory note proving the terms of the mortgage