Document list for pre-approval
Documents Needed to Secure the Best Home Purchase or Refinance Loan for Your Needs
1) Income paper work:
a) W2 Employee:
1) Copy of current paycheck stubs to cover a 30 day period.
2) Copy of last 2 years W2’s.
3) Supervisor or HR contact name and phone # to verify employment.
b) Self employed:
1) Copy of signed, last 2 years Federal 1040 tax returns w/Schedule C or K.
2) Copy of business or professional license to verify at least 2 years of self-employment – (if no license see ii)
3) Accountant’s contact information…we will need a letter from your accountant stating that you have filed your taxes as self-employed for ‘x’ amount of years at your current business address. We are happy to order this for you.
c) Fixed income:
1) Proof of amount you are entitled to receive (benefit statement, court order, etc.).
2) Proof that payments will be continuing (pension, annuity, birth cert for CS)
d) Rental Property Income:
1) Copy of Federal 1040’s for last 2 years with schedule E (or see ii).
2) Copy of lease agreements.
2) Asset paper work: (To cover down payment, closing costs and/or reserves.)
a) Bank statements, 401K’s, IRA’s, mutual funds, stocks, life insurance w/cash values, etc. (Will need previous 2 months or most recent quarterly reports – ALL pages)
b) If gift funds are to be used, we can provide you with proper paper work for documenting gift.
c) If HELOC/2nd mortgage funds are to be used from new loan:
1) Copy of a current statement or Note for loan.
2) Copy of final closing statement (Final HUD).
3) Credit paper work: (if applicable)
a) Copy of all supporting credit documentation (credit report, paid letters, BK Discharge Papers and BK Creditor List – schedule F, etc.)
b) Letter of explanation for any late payments, etc. if applicable.
4) If currently renting – need 2 year history:
a) Name & Phone # of landlord
b) Amount paid in rent
c) Dates living at property
5) If you currently own – need 2 year history:
a) Copy of most recent mortgage statements – for all properties owned.
b) If applying for a 2nd /HELOC line/loan include copy of the NOTE for your 1st mortgage.
6) Copy of hazard (homeowner’s) insurance bill or quote – be sure contact info for agent is included.
7) If there is a HOA, please include management’s contact information and a copy of your monthly bill.
Copy of Driver’s License and Social Security Card to comply with Federal Patriot Act.
9) Real Estate agent’s name and contact number if not TR Realty and is a purchase loan.
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