To apply for a loan, you will have to provide your lender with detailed documentation of your financial history. The lender will request a credit report from a credit agency and will verify the information provided in your loan application. Be prepared to provide:
Current pay stubs equal to one month (Equal to 30 days) of pay. If you started with a new company this year, also provide the last pay stub from your previous employer showing year-to-date earnings.
W-2s for all jobs and 1040s (Personal Income Tax Forms) including all federal schedules and statements for most recent two years. If you are self-employed, please provide a year-to-date profit and loss as well as business returns for most recent two years (1120, 1120s, etc.).
The most recent two months bank statements on all checking, savings, stock, retirement, and any other asset accounts. All pages of each statement are required, even if the pages are blank.
If this is a refinance, a copy of your current mortgage statement, NOTE, insurance dec page, and property tax bill. If this is a Condo or PUD, please provide the Home Owner’s Association’s name, address, telephone number AND the current HOA bill/statement.
A copy of your hazard insurance policy quote or the insurance agent’s name, address, and telephone number if this is a purchase.
If you own any additional properties, please provide mortgage statement, insurance dec page, and current tax bill for each property. (Include HOA bill if applicable) If you own rentals, provide rental agreements.
If you have declared bankruptcy in the last 10 years, please provide a complete copy of your bankruptcy papers with the discharge pages.
If you are divorced and/or are paying/receiving alimony or child support, please provide a complete copy of your divorce decree and/or any court papers documenting the actual payments required to be made or received.
If you are renting, please provide the name, address, and phone number of your landlord and the amount that you pay for rent.
Copy of Government Issued ID: State Driver License, Military ID, State ID, Passport, etc.