Documentation is the key to the perfect mortgage. It is very important that the application is complete and accurate so that we can determine how to document your situation. We review everything upfront and select a program specific to you, based on the this data. The documentation needed to support the application is critical. PILLARS OF THE APPLICATION: ADDRESSES, INCOME & WORK HISTORY, ASSETS, REAL ESTATE OWNED AND CREDIT.
ADDRESSES: Be very precise with the dates with where you have lived, received mail and filed tax
returns. Make sure all of your documents have the accurate address on them.
For example, your mail and your drivers license should match. Any credit items will have the
correlating address on the credit file, so don't leave any off.
Sometimes a simple letter to your loan officer explaining all of your addresses will suffice.
INCOME & WORK HISTORY: We must have two years of complete employment data. The exact dates
of employment matter a lot because part of the processing will include obtaining a verification of
employment form from each employer for the last 2 years. Be sure you notate the proper
information needed to contact your past and current employer. If you are self employed, a CPA
can provide a letter to the processor.
Provide the last two year of income documents based on the type of work you have done for the
last 2 years. Filed federal tax returns, W2 forms and the most recent two months of pay stubs.
If you are self employed we will average the income from all tax returns and will need a year to
date Profit and Loss statement from the last filed return. The Articles of Incorporation and
perpetual registration with the Secretary of State is needed to document the length of time the
business you own has been operating.
ASSETS: This is a very detailed part of the application. Provide the most recent two months of asset
statements and supporting documentation for all deposits. The source of funds that can be used
in a mortgage transaction is very specific.
DO NOT MOVE MONEY IN OR OUT OF ACCOUNTS UNTIL THIS HAS BEEN REVIEWED.
REAL ESTATE OWNED: We need a complete list of any property that you are on the deed and therefore
own. Please provide the most recent expense documentation per property: Mortgage Statement,
Insurance declaration page, Tax bill and Home owner association statement.
PROVIDE 2 FORMS OF IDENTIFICATION: drivers license and social security card.
CREDIT WILL BE PULLED FROM ALL THREE BUREAUS. BE SURE THAT NO ACCOUNTS ARE FROZEN.