Below is what you need when you apply for a Lee’s Summit Home loan. Don’t worry. Your Loan Officer and I’ll be your guide every step of the way to keep the entire loan process simple.
All Lee’s Summit Borrowers:
- Copies of W-2s for the past two years.
- Copies of the two most recent consecutive pay stubs showing year-to-date earnings.
- Copies of checking and saving account statements for past three months (all pages).
- Copies of quarterly or semi-annual statements for checking, savings, IRAs, CDs, money market funds, stocks, 401k, profit sharing, etc.
- Copy of sales contract when ratified.
- Employment history for the previous two years (address any gaps of employment).
- Residency history during the past two years, with name, phone number, address and account number of land or mortgage company; for rental property, copies of leases.
- Canceled earnest money check when it clears or corresponding bank statement, if applicable.
- Commissioned income documentation if it’s 25% or more of your base income; must have tax returns.
- Check for the expense of appraisal and credit report.
- Refinance copy of note, deed of trust, settlement statement, survey and insurance information.
- Any assets used for down payment, closing costs and cash reserves must be documented by a paper trail.
- If you paid off mortgage in the past two years, need copies of HUD1.
- Copy of driver’s license for applicant and co-applicant.
- Copies of your past two years’ tax returns.
- Copy of Social Security Card for each applicant and co-applicant.
Self-employed / 1099 Borrowers:
- Copies of your past two years’ tax returns (with all schedules, including K-I’s if applicable).
- Copy of current profit and loss statement and balance sheet.
- Copy of corporate/partnership tax returns for last two years if owning 25% or more of company plus copies of W-2s and/or 1099 forms.
Documents Which May be Required:
- Relocation agreement if move is financed by employer (i.e. buyout agreement plus documentation outlining company-paid closing costs benefits).
- If you’ve had a previous bankruptcy, bring copies of petition for bankruptcy and discharge, including supporting schedules.
- Divorce decree (if applicable);
- Documentation supporting monies received from Social Security/retirement trust income, i.e. copies of direct deposit bank statements, awards letter or evidence income will continue.
- Have Questions About Special Circumstances. Contact me.
Documents Needed For FHA/VA Loans:
- FHA: Copy of Social Security Card and driver’s license for each applicant and co-applicants.
- VA: Original certificate of eligibility and copy of DD214 discharge paper.
- VA: Name and address of nearest living relative.
Now that you have everything you need to start, call me so that I can get started on your approval.