Mortgage Check List

Mortgage Checklist





As you begin the journey of applying for a mortgage there are certain items you will need along the way. We want to make your experience as smooth as possible, so we have compiled a list of documents you will need to complete the mortgage process.

10 THINGS WE NEED TO KNOW

Network Funding Solutions Identity

IDENTITY

  • Legal Name
  • Social Security Number
  • Address (last 2 years)
  • Date of Birth
Network Funding Solutions Income

INCOME

  • Employer Name
  • Compensation Amount
  • Work History
Network Solutions Assets

ASSETS

  • Bank Accounts
  • Investments
  • Other Real Estate Owned

For a Stated Income Purchase or Refinance Loan:

For a Full Doc. Purchase Loan (All Conventional & Government loans like USDA & FHA):

For a Full Doc Refinance (for all conventional & government loans like FHA & USDA):

For a HARP Refinance:

For VA & CalVet  Refinance or Purchase (refer to refinance or purchase checklists above and in addition send the following) :


If you have questions regarding any of these documents please Contact Massey Kouhssari 949-244-1880


Checklist

Items Required to Purchase or Refinance:

Salaried Employees (copies-no originals):

  • Credit Authorization Form (sign and return with the itmes below).
  • Copy of Social Security and Drivers License (Patriot Act)
  • 2 most recent Bank Statements (all pages)
  • 2 most recent W2′s for all borrowers
  • 2 most recent Federal 1040 Tax Returns
  • Current mortgage statement
  • Hazard policy dec page (refinance)
  • 1 month of current pay stubs showing year-to-date for all borrowers (1 month or a full 30 day worth is usually 2 pay stubs)
  • Copy of the purchase and sale agreement (purchase only)
  • If you are currently renting, either 12 months canceled rent checks or the name and address of your current landlord

Self-Employed Individuals (copies-no originals):

  • Credit Authorization Form (sign and return with the items below).
  • Copy of Social Security and Drivers License (Patriot Act)
  • 2 most recent Bank statements for the past two months
  • 2 most recent Federal 1040 Tax Returns
  • CPA Letter stating self-employment for the last 2 years
  • Current business license for the last 2 years
  • Current Mortgage Statement
  • Property tax statement
  • Hazard policy dec page (refinance)
  • Copy of the purchase and sale agreement (purchase only)
  • If you are currently renting, either 12 months canceled rent checks or the name and address of your current landlord
  • K-1 for any partnerships or trusts or Subchapter S corporations
  • 1120 Corporate or 1065 Partnership Tax Returns – complete copies for the past 2 years with your signature
  • Year-to-Date Profit & Loss Statement with your signature and date.

Retired Individuals:

  • Award letter for Social Security and Pension income stating the dollar amount and how long the income will last.

Rental Income

  • Copy of the rental agreements for any rental units owned. 
  • Rental Income on full documentation loans can only be used if reflected on your taxes Schedule E’s from Fed. 1040s Contracts (Rental income calculation tip: 2 years average of in comparison to market rate X 75%)
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