Some lenders may offer minimal documents from borrowers; however to ensure the income and assets are not missing out during approval process, please making sure you have this check list of documents for your loan officer:
1. W-2’s and or 1099’s, along with Federal Tax Returns with ALL Pages and ALL Schedules for 2 most recent years from ALL borrowers who will be on the loan.
2. Last 2 paystubs (for wage earner); copy of 2 years business license (for Self Employed) from ALL borrowers who will be on the loan.
3. Last 2 months of account statements, with ALL Pages in sequential order, for all accounts including Checking, Savings, 401K, I.R.A, Stocks or Bonds, Pension or Retirement accounts.
4. If a Borrower receives any type of Pension, Retirement, Social Security, or Disability income I will need a copy of the recent year Award Letters, with ALL Pages.
5. If applicable, please provide a copy of the most recent mortgage statement, annual Homeowners Insurance Declaration Policy, HOA statement, for ALL Properties owned.
6. A clear copy of the Driver’s License and Social Security Card from ALL borrowers who will be on the loan.
7. If any of the applicants have been divorced within the last 20 years, please supply a complete copy of the Divorce Decree with ALL Pages. Any Family, Child or Spousal Support must be declared.
8. If any of the applicants have had a prior Bankruptcy within the last 10 years, please supply a complete copy of Bankruptcy Discharge paperwork with ALL Pages.
9. If applicable, please provide Employer HR contact and fax number for employment verification, Landlord name and phone number to verify a 12 month rental history paid on time.