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This is what I will need to lock in a rate & get the application started:
(include for co-borrower if applicable)
- W’2’s last 2 years
- Last 30 day Paystubs
- 2 month Bank Statements
- Copy of Driver’s License
- Social Security #’s
- Annual Property taxes info
- Annual Homeowner insurance premium info
- Check for Appraisal fee payable to “Elk Financial”
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Other income information you may need |
If you're self-employed:
Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
If you have income from:
Commission
Overtime
Bonus
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns.
If employed in family business, personal federal income tax returns and all schedules for the past two years.
If divorced or legally separated, complete executed divorce decree and settlement agreement.
Payment history of alimony/child support over the past 12 months, if it is a financial obligation. If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.
Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances (we can usually get this from your credit report)
If you've sold your home but not closed:
A copy of the sales contract
If you've sold your home & closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement
Name, address and phone number of landlords for the past 24 months
Purchase sales contract or offer to purchase and all addendam's
Furnish contract with original signatures of buyer and seller. MLS sheet.
If a source of your down payment is a gift:
Name, address and relationship of donor.
Gift funds will be verified in both the donor and recipient's accounts.
Note: Not all loan programs allow gifts to be part of your down payment.
For FHA Financing:
Evidence of Social Security Number and photo identification
For VA Financing:
DD214 and Certificate of Eligibility
For Construction/Perm Loan:
Signed construction with cost breakdown, builder plan and specifications
