When applying for a loan, the following items (as it applies) will be required from you by the lender. It is important to have these ready to send to the lender on demand. (For VA loan requirements, click here)
*Federal tax returns with all schedules, for the last two years – Ensure page 2 is signed and dated, 1040's if you are self-employed, earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own rental property or you take non-reimbursed business expenses.
*Any 1099’s, W2s or K-1’s for the last two years as shown on your Federal Tax Returns
*Last 30 days of paystubs
*Last three months of asset statements (checking account, savings account, 401k, etc.) – all pages; be prepared to document the source of non-payroll deposits over $1,000 Most recent 401K statement, along with terms & conditions of withdrawal (if applicable)
*Copies of driver’s license
*Copies of Social security card
*Landlord’s name, address, and phone number
*Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens
*Copy of bankruptcy papers filed within the last seven years
*Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt
*Receipt for child support payments
*Copy of Divorce Settlement
For self-employed (in addition to the above):
Year-to-Date Profit and Loss Statement
Corporate or Partnership tax returns (if you own more than 25% of a business)