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Mortgage Checklist

The following  information  is usually required for the application  process:

  • Current paycheck stubs covering the last 30 days

  • Copies of previous two years W-2's and all 1099's

  • Two years of Federal Tax Returns with W-2's, 3 years if WHEDA (2 years of Corporate or Partnership Returns if you own 25% or more in the company) If you own rental properties or if you are commissioned, the previous 2 years of Federal Tax Returns will  be required.

  • Last two (2) monthly statements for all bank and investment accounts. Please provide all pages. All non -payroll deposits over $500.00 must be documented.

  • Complete copy of Divorce Decree and Child Support Documentation

  • Copy of Driver's License

  • Copy of the Offer to Purchase, Property Condition Report and Lead Based Paint Notice on Purchase Transactions

Mortgage Loan Do’s & Don’ts:

  • Do provide all the requested documents quickly and accurately to your Loan Officer or their Processor

  • Do keep your file current with most recent copies of your paystubs (covering 30 days) and bank statements (last 2 months).

  • Do obtain a legible and fully executed copy (signed by all parties) of your purchase contract.

  • Do arrange for satisfactory homeowners insurance coverage binder on your home effective on the date of your closing.

  • Do stay current on all your existing credit cards and other accounts.

  • Do call your Loan Officer immediately if you want to change your finances in any way. This must be done at least 10 days prior to closing.

  • Don’t make changes with your employment.  Inform us immediately of any changes to your job, position or income.

  • Don’t place untraceable funds into your bank account. Keep records of all income and deposits over $500.00.

  • Don’t make any major purchases (car, furniture, refrigerator, etc.) with your credit cards.

  • Don’t delay getting information to us. It will only cause delays in your closing.

  • Don’t worry if we don’t call you daily. That’s a good thing…It means your loan is going well and we have all the documentation we need at this time.

  • Don’t forget the funds for closing should be in the form of certified funds made payable to yourself. You will receive a call with the exact amount for closing within 48 hours of closing.

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