mortgage documentation, what do I need?

Loan Application Checklist

In general, the documentation you will need includes:

(please remember that your loan officer may request loan specific documentation)

Property Information (if you already have a contract on a house)

Purchase Agreement.

Copy of legal description and MLS sheet.

If you are selling your current home, copy of listing contract.

If you have sold your current home, copy of settlement statement (Hud-1).

Income & Assets

Pay stubs for the last 30 days.

For the past two years:

	Names and addresses of each employer.
	W-2s

Statements for each bank, retirement, mutual fund, and/or investment account for the last two months (all pages).

Estimated value of personal property and furniture.

If you have made any large deposits to your accounts:

Explanation and source for deposit.

If large deposit was a gift:

	Signed gift letter (lender will supply).
	Copy of gift check.
	Copy of deposit receipt.

If you own more than 25% of a business:

Corporate or partnership tax returns.

If self-employed:

	Tax returns for the last two years (with schedules).
	Year-to-Date Profit and Loss Statement prepared by an accountant.

If you own rental property:

Tax returns for the last two years and current rental agreements.

If you are retired:

Pension Award Letter.

If you receive Social Security:

Social Security Award Letter.

If you are counting child support as income:

	Copy of divorce settlement, documenting amount recieved.

Debts

Proof of satisfaction for debts paid, but still reporting

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.

Residence addresses for the past two years and contact info for applicable landlords

If applicable, a copy of your divorce decree.

If you are not a citizen, a copy of the front and back of your green card.

First Liberty Financial Mortgage 13295 Illinois St, Suite 212 Carmel, IN 46032