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 IDENTITY- Legal Name
- Social Security Number
- Address (last 2 years)
- Date of Birth
INCOME- Employer Name
- Compensation Amount
- Work History
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 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
ChecklistItems 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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