The following items are traditionally used to support your application; however, you do not have to send in documentation to begin the process. Using an automated underwriting system, the service provider is able to proceed with streamlined documentation requirements once your application has been reviewed.

Nevertheless, since automated underwriting cannot be used in all scenarios, we do recommend that you begin compiling these documents so that you are prepared if, and when, a bank representative asks for them.

  • W-2s for each applicant for the past 2 years.
  • 30 days recent consecutive pay stubs. Five stubs if paid weekly, three stubs if paid every two weeks or semi-monthly, and one stub if paid monthly. If you do not save your pay stubs, begin saving them now.
  • Your three most recent statements of account for each bank account, savings account, money market account, cash management account, stock or mutual fund brokerage account, IRA, certificates of deposit, or employee retirement account currently used by each applicant. Under Fannie Mae and Freddie Mac guidelines we only need to verify the amount of cash the applicant will be required to bring to closing plus 2 months’ reserves. If you are applying for a Fannie Mae or Freddie Mac loan, you will only need to provide copies of those account statements which prove the necessary funds. PLEASE PROVIDE ALL PAGES OF THE STATEMENTS.
  • Copy of divorce decree for each applicant who either pays or receives alimony and/or child support.
  • Record from child support office showing payments received for the past 12 months. You must provide this record only if you rely on the child support received to qualify for the requested loan.
  • Copy of sales contract or purchase agreement for property being purchased (inapplicable on refinances).
  • Copy of declarations page from the homeowner’s / hazard insurance policy for the property (refinances only).
  • If you derive a portion of your income from social security benefits, please provide the most recent Social Security Award Letter indicating the amount of your current monthly payments from social security.
  • Copies of current lease agreements for each residential rental property that you own.

If you derive more than 25% of your employment income from bonuses or commissions, you must also provide Tax Returns (Form 1040) for the past 2 years.

If you are a sole proprietor (report income on Schedule C of your Form 1040 tax return) or if you own 25% or greater interest in the business from which you derive your primary income, you must also provide:

  • Tax Returns (Form 1040) for the past 2 years.
  • Year-to-date Profit & Loss Statements for that business.
  • Business Tax Returns (Form 1065 or 1120) for the past 2 years, if the business is a corporation or partnership.
  • K-1s for your business, if it is a Subchapter S corporation or partnership.