________ Full name(s) and copy of Social Security Card(s)and Driver's License of those who name(s) will be on the loan and contract for purchase.
________ Addresses which you lived for last two years. If you are renting, please provide landlords name and contact information and amount of rent.
________ Complete Employment information for past two years, contact information for employer, previous employers, and positions held. Letters of explanation for employment gaps over 30 days.
________ Paycheck stubs for last 30 days, last two years of all W-2's.
________ If self-employed or paid by bonuses or overtime, last two years of tax returns. The adjusted gross income on line 37 of the 1040 IRS Tax Form will be added together from those two years of tax returns and divided by 24 months to determine your eligible monthly income.
________ List of real estate owned. Vacation properties, Investment properties, Commercial properties, etc...
________ Describe and provide proof of additional income; Social Security, Child Support, Notes receivable, etc...
________ Bank, Credit Union, and any other Financial Institutions statements for last 60 days. (All pages of Statements.) We will need letter of explanation on any deposit that is not a part of your reported income.
________ Address of property you are purchasing or where you are looking for a home.
________ It is suggested you review your credit and credit scores. Credit scores minimums vary based on loan program. Your total debt to income ratio, which would include the proposed house note should be at 41% of your gross income.
________ Bankruptcies - Conventional loans must be discharged 4 years, FHA loans must be discharged 2 years.
________ Foreclosures - Conventional loans must be 5 years, FHA loans must be 3 years.
________ VA loans need a Certificate of Eligibility.
