This site  The Web

Print Friendly Version (pdf) Property information: Signed Purchase Agreement Copy of cancelled earnest money check(s) MLS Listing Sheet or property information sheet Name, phone number and email address for your attorney Name, phone number and email address for your real estate agent Selling a Home: Using the proceeds from the sale of a home is common.  Additional supporting documents are required. Copy of the Listing Agreement Copy of the Purchase Agreement (if available) Copy of the HUD-1 Settlement Statement (consult your Licensed Mortgage Professional)  Salaried Applicants: Paycheck stubs for the most recent 30 days W-2 forms for all employment for the previous 2 years (applicable to ALL applicants) Employment history for the last two (2) consecutive years - include dates employed, and name, address and phone number of employer Self-Employed Applicants: Personal tax returns (2 years; including all schedules) Business tax returns (2 years; including all schedules) Current financial statement, signed and dated, including balance sheet and profit and loss statement 1099s for the last 2 years (if applicable) Commission and/or Bonus Applicants: W2 forms for the last 2 years Previous 2 years personal tax returns (all schedules) Pay stubs for the last 30 days Own More than 25% of a Business: 2 years Corporate/Partnership tax returns (all schedules) Rental Property Ownership: Copies of current rental lease agreements (signed) Complete copies of previous 2 years personal tax returns including all schedules Pension Income: Pension award letter, pay stubs, and any forms showing duration of payments 1099s for the last 2 years Social Security and/or Disability Income: Copy of SS Award Letter and recent check stub or copy of a bank statement if the funds are direct deposit 1099s for the last 2 years Asset verification: Address of Banks Copy of the past 2 months statements for the following account types (ALL pages must be included): Checking Savings Mutual Funds Stocks and Bonds Money Markets Retirement Accounts (IRA, 401k, etc) Make, model, and year of all automobiles Estimated market value of all real estate owned NOTE:  Large or non-sequential deposit activity typically requires explanation and verification of source and the proper supporting documentation. GIFTS:  Consult your Licensed Mortgage Professional if any recent deposit represents gifted money, or if you will be receiving a gift.  All gifts must be confirmed by a Gift Affidavit (Letter) and other proper supporting documentation. Miscellaneous: Residence address for the past 2 years Complete mailing address for mortgage holder(s) and/or landlord(s) for the previous 2 years Copy of valid photo ID (all applicants) Copy of Social Security card(s) (all applicants) Copy of form DD214 (VA applicants only) If you were a full-time student during the last 2 years, a copy of your diploma or transcripts Copy of your complete divorce decree or separation agreement (if applicable) 12 months of cancelled alimony checks 12 months of cancelled child support checks and copy of court award and ages of children If you filed bankruptcy within the last 7 years, provide a copy of your bankruptcy papers Refinancing:  more about Refinancing Copy of most current mortgage statement (if applicable) Copy of most recent Homeowner's Insurance Statement Copy of Note and HUD-1 from previous closing The Smart Comsumer's Guide to the NEW Good Faith Estimate is a practical reference guide on the GFE and HUD-1, and offers money saving insight.   Mortgage Disclosure Improvement Act (MDIA) HUD's new settlement cost booklet 24 CFR 3500.6(c)&(d): "[n]o changes to, deletions from, or additions to the special information booklet currently prescribed by the Secretary shall be made..."  About Rate Lock-Ins  When you close, will you actually receive the terms you were promised and applied for?  Lock-ins are a way to ensure that what was promised is what you get. The Work Number - Employment Verification  If you're applying for a mortgage and your employer uses a third-party verification service, let your Mortgage Professional know.  Follow the link above to learn more. Equal Credit Opportunity: Understanding Your Rights Under the Law (PDF) Under the Equal Credit Opportunity Act (EOCA, Reg. B), it is illegal to discriminate in any credit transaction: on the basis of race, color, national origin, religion, sex, marital status, or age; because income is from public assistance; or because a right has been exercised under the Consumer Credit Protection Act.