Borrower's checklist
To set yourself up for a smooth process, we recommend gathering all your paperwork prior to applying for your loan. This checklist can help!
| Income |
|---|
| W-2s or 1099s for the previous two years for each borrower |
| Paycheck stubs covering the most recent 30 days for each borrower |
| Investment/retirement statements covering the most recent two months for all accounts |
| Federal tax returns or 1040s for the most recent two years |
| Disability, Social Security, or retirement pensions: copy of the awards letter or other documentation of income received from these sources, including evidence of continuance |
| Self-employed income |
| Schedule C of your tax returns for the previous two years if you are involved with a sole proprietorship |
| K-1 Schedule of your tax returns for the previous two years if you have an interest in a limited partnership |
| Partnership tax returns (IRS Form 1065) for the previous two years if you have a 25% or greater interest in a partnership |
| Corporate tax returns (IRS Form 1130 or 1120) for the previous two years if you have a 25% or greater interest in a corporation, including S corporations |
| Signed year-to-date profit and loss statements for your business |
| Account information: |
| Bank account statements for the previous two months on all accounts listed on the application |
| Gift letter if gift funds will be used for the down payment or closing costs |
| Retirement account statements for the previous two months |
| Bank account statements evidencing clearance of earnest money deposits |
| Miscellaneous: |
| Divorce decree: copy of complete, final decree and any other applicable documents |
| Child support or alimony: documentation showing 12 months of income received and evidence of 3 years' continuance |
| Bankruptcy/discharge of debtors: copies of documents, including all schedules |
| Relocation papers showing start date, pay, and company buyout, if any |
| Letters of explanation for recent credit inquiries or any negative credit entry |
| Rental information from the last two years, including property address, dates of residence, landlord’s name, address and phone number |
Your loan officer may request additional documentation based on your individual circumstances; responding quickly will help keep everything on schedule!