MORTGAGE DOCUMENT CHECKLISTS


2

PURCHASING A HOME


CONTRACT & DEPOSIT
  • Sales Contract: fully executed by all parties
  • Deposit: copy of cancelled check plus bank statement showing source of funds
    • Gift: if you are using a gift for deposit or closing agents, please include gift letter, copy of gift check and deposit slip
PERSONAL INFORMATION
  • Residential Loan Application: completed and signed
  • Valid Government Issued Picture ID: for all borrowers
INCOME VERIFICATION
  • Salaried Borrowers
    • W-2: covering 2-year period
    • Pay Stubs: covering 60-day period
    • Personal Tax Returns including W-2’s: signed covering 2 year period
  • Self-employed Borrowers
    • Personal Tax Returns including Schedules, 1099’s, and W-2’s: signed covering 2 year period
    • Business Tax Returns including Schedules and K1’s: signed covering 2 year period
  • Other income
    • Real Estate: if using income from property recently sold, include closing statement and copies of bank statements where funds were deposited covering 90-day period
    • Rental: provide rental/lease agreement
    • Social Security: annual award letter required
    • Commission/Bonus/OT: 2-year period verification
    • Retirement: provide current statement reflecting income
ASSET VERIFICATION
  • Bank Statements: covering 60-day period
  • Homeowners Insurance quote: for home being purchased
  • Real Estate: tax and insurance statements for any other real estate owned
MISCELLANEOUS
  • If alimony or child support is paid by either borrower, include divorce decrees, child support and/or separate maintenance agreements
  • If alimony or child support is used as income, include divorce decrees, child support and/or separate maintenance agreements (Please note: alimony, child support, or separate maintenance agreements)
  • are only required if borrowers choose to use as income
  • Provide written explanations for any credit issues or inquiries appearing on credit report

2

REFINANCING A HOME


PERSONAL INFORMATION
  • Residential Loan Application: completed and signed
  • Valid Government Issued Picture ID: for all borrowers
INCOME VERIFICATION
  • Salaried Borrowers
    • W-2’s: covering 2-year period
    • Pay Stubs: covering 60-day period
    • Personal Tax Returns: signed covering 2 year period
  • Self-employed Borrowers
    • Personal Tax Returns 1099’s and W-2’s: signed covering 2 year period
    • Business Tax Returns including Schedules and K1’s: signed covering 2 year period
  • Other income
    • Real Estate: if using income from property recently sold, include closing statement and copies of bank statements where funds were deposited covering 90-day period
    • Rental: provide rental/lease agreement
    • Social Security: annual award letter required
    • Commission/Bonus/OT: 2-year period verification
    • Retirement: provide current statement reflecting income
ASSET VERIFICATION
  • Bank Statements: covering 60-day period
  • Homeowners Insurance quote: for home being refinanced
  • Mortgage Statement: showing current balance
  • Survey: original survey, if available
  • Owner’s title insurance policy
  • Real Estate: tax and insurance statements for any other real estate owned
MISCELLANEOUS
  • If alimony or child support is paid by either borrower, include divorce decrees, child support and/or separate maintenance agreements
  • If alimony or child support is used as income, include divorce decrees, child support and/or separate maintenance agreements (Please note: alimony, child support, or separate maintenance agreements)
  • are only required if borrowers choose to use as income
  • Provide written explanations for any credit issues or inquiries appearing on credit report

1

HOME EQUITY LINE OF CREDIT – ACCESSLINE


PERSONAL INFORMATION
  • Home Equity Loan Application: completed and signed
  • SAFE* Act Disclosure form: signed
  • Right to Receive a Copy of Appraisal Report: signed
  • Valid Government Issued Picture ID: for all borrowers
INCOME VERIFICATION
  • Salaried Borrowers
    • W-2’s: covering 2-year period
    • Pay Stubs: covering 60-day period
    • Personal Tax Returns: signed covering 2 year period
  • Self-employed Borrowers
    • Personal Tax Returns including Schedules, 1099’s, and W-2’s: signed covering 2 year period
    • Business Tax Returns including Schedules and K1’s: signed covering 2 year period
  • Other income
    • Real Estate: if using income from property recently sold, include closing statement and copies of bank statements where funds were deposited covering 90-day period
    • Rental: provide rental/lease agreement
    • Social Security: annual award letter required
    • Commission/Bonus/OT: 2-year period verification
    • Retirement: provide current statement reflecting income​
ASSET VERIFICATION
  • Mortgage Statement: showing current balance
  • Homeowners Insurance policy
  • Flood insurance policy: if applicable
  • Survey: original survey, if available​​​​​
  • Real Estate: tax and insurance statements for any other real estate owned
MISCELLANEOUS
  • If alimony or child support is paid by either borrower, include divorce decrees, child support and/or separate maintenance agreements
  • If alimony or child support is used as income, include divorce decrees, child support and/or separate maintenance agreements (Please note: alimony, child support, or separate maintenance agreements)
  • are only required if borrowers choose to use as income
  • Provide written explanations for any credit issues or inquiries appearing on credit report

*Secure and Fair Enforcement for Mortgage Licensing Act