Mortgage Documentation Requirements

Depending upon what loan program you choose, documentation will be required to process and underwrite your loan. Here are the categorized requirements for your convenience.

Income Documentation

• Last 2 months bank statements - all pages.
   
• Last quarter investment or trust accounts.
   
• Copies of stocks, bonds, or US savings bonds.
   
• Current statement for 401(k) or IRA accounts.
   
• Real Estate you now own: address, current value, loan balance, monthly payment, and rental income if any.
   
• Listing agreement and sales contract if selling your current home.
   
• Value of autos, boats and any other personal property.

Liability Information

• Complete list of current debts and minimum monthly payments (may be taken from credit report).
   
• Last 12 months cancelled checks (front and back) for rent or land contract.

Home Information

• Copy of your sales agreement.
   
• Copy of the MLS listing card.

Miscellaneous Information which may be required

• College diploma if graduated within last two years.
   
• Copy of Drivers License or picture ID at closing.
   
• Gift letter signed by donor and proof of receipt.
   
• Landlords contact information.
   
• Copy of your earnest money deposit check.
   
• Contact name and phone for appraisers access to property.
   
• Your Realtor's contact information.

As an alternative to the above requirements, you may qualify for either a limited or no documentation loan.

Please call Ilona Downey for more details.
806-788-3116 Office
778-0208 Cell