The following documents may be requested to obtain new mortgage loan:
Income Verification Documentation:
- Most recent pay stubs covering a 30 day period (if paid bimonthly, two pay stubs).
- The last paystub that was received at the end of 2023 and the last paystub that was received at the end of 2022.
- HR contact (name, email and phone number) for each employer.
- 2023, 2022 and 2021 W-2’s
- 2023 and 2022 Personal Tax Returns, ALL PAGES, complete with all schedules (Federal Only). If you have not filed 2023, please provide 2022 and 2021 Federal Personal Income Tax Returns.
- 2023 and 2022 Business & Corporate Tax Returns (for all companies of which you own 25% or more) complete with all schedules (Federal Only). If you have not filed 2023, please provide 2022 and 2021 Federal Business Income Tax Returns.
- If you have not filed your 2023 business tax returns, please provide a 2023 Year-End Profit and Loss Statement for all companies which you own 25% or more.
- 2024 Year-to-Date Profit and Loss Statement through the end of last month (for all companies of which you own 25% or more).
- Copy of business License(s).
- Social Security Award letter(s).
- Verification of Pension or Retirement Income (i.e. awards letter or annual statement).
Asset Verification Documentation:
Most recent two (2) months statements or last quarterly statements for the bank, investment and/or retirement accounts to be used to purchase a property. The statements must reflect the following:
- Bank Name
- Account Holder Name
- Full Account Number
- Beginning and ending balances, minimum 30 day spread
- Send ALL Pages (including blanks or advertisements if numbered)
Real Estate Documentation:
- Insurance Declaration Page for all properties owned free and clear. Must show annual premium amount.
- Mortgage Statement for all properties owned. Must show property address.
- Copy of Property Tax Bill for all properties owned. Must show semi-annual property tax amount.
- Copy of Property Insurance Bill for all properties owned. Must show semi-annual property tax amount.
- Copy of bill for HOA dues for all properties owned. Must show monthly/quarterly/annual figure.
- Lease Agreements for all rental properties.
- The 1031 exchange agreement, sales contract, conveyance document and settlement statement for any relinquished property.
- A COMPLETE copy of your trust and all amendments if title is being taken in the name of a trust.
Different programs require varying amounts of documentation. The loan program you select may require more or less documentation. Please contact us for a free, no-obligation consultation.
