google.com, pub-6663105814926378, DIRECT, f08c47fec0942fa0 ESSENTIAL LIST OF MORTGAGE APPLICATION DOCUMENT 4289

ESSENTIAL LIST OF MORTGAGE APPLICATION DOCUMENT

DOCUMENTS ALWAYS REQUIRED FOR MORTGAGE APPLICATIONS
• Photo ID
• Authorization to pull a credit report
• Proof of homeowners insurance Proof of income
• Source of down payment and/or closing costs



WAGE EARNERS: MINIMUM DOCUMENTATION
If you're a full-time W-2 employee who does not earn commission or bonus income, you may need just a few documents--enough to prove that you have predictable and sufficient income and funds to close. Supply these items:
• Most recent pay stub, listing your year-to-date earnings
• Copy of most recent bank statement showing funds to close

SELF-EMPLOYED BORROWERS: REQUIRED ITEMS
• Two years (or more) of tax personal tax returns
• Two years (or more) of business tax returns
Copies of personal and business account bank statements (two or three months for traditional underwriting, up to 24 months for bank statement loans)
• Copies of business licenses and/or corporate filings
• Statement from accountant or CPA about the health of your business
• Letter of explanation for uneven or declining business income
• Partnership tax returns and/or schedule K-1

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