Once you begin your application, you’ll need to collect the following:

  • Last year’s W-2 form. Signed and dated Federal Tax Returns (1040s) from the last year, including all schedules.
  • Most recent pay stubs for each borrower.
  • A copy of your most recent mortgage statement (if available)
  • A copy of the purchase contract (if applicable).

If you are self-employed, you will also need:

  • Last year’s signed and dated tax return, including all schedules, a year-to-date Profit and Loss (P&L) Statement that is less than 60 days old, and a current signed Balance Sheet.
  • If you’re part of a corporation or partnership, provide last year’s tax return for corporation/partnership including form K-1, a year-to-date Profit and Loss (P&L) Statement (less than 60 days old), and a current signed Balance Sheet.
  • Certain applicants will need to supply additional information:
  • If your down payment includes a cash gift from a friend or relative, you need a copy of the check or wire transfer showing the donor’s name and account number, plus a copy of the deposit into your bank account. (This applies only to home purchase loans.)
  • If you receive a Social Security pension or annuity, provide a copy of the awards letter and a copy of a recent benefit check.
  • If you own other real estate, provide a lease/rental agreement if applicable, and copies of property tax and insurance bills.
  • If you receive alimony or child support, provide a copy of the divorce decree and evidence of receipt of income for 12 months (e.g., canceled checks, deposit slips or bank statements).
  • If you pay alimony or child support, provide a copy of your divorce decree.
  • If you’ve had a bankruptcy within the last seven years, provide a copy of your bankruptcy discharge, a copy of the petition (including schedules A & B) and an explanation of the circumstances.
  • If you currently pay rent, provide copies of rental payments for the last 12 months (may include canceled checks, bank statements, money orders, etc.) and the name and address of your landlord for the same time period.your application now complete, your Personal Mortgage Specialist will notify you when your loan is approved and your loan papers are ready to be signed. You’ll receive your funds approximately one week after signing.