You will be asked to provide financial documentation for your loan officer. Any missing documentation could cause delays in your loan approval process. Gather these documents to help make your loan application a breeze!
- Copy of Driver’s License(s)
- Landlord contact information - please let us know if we can contact your landlord or if we need to wait so we do not interrupt your current living situation.
- Please email me who you want to use for homeowner insurance, agent name/#.
- Last 30-days of paystubs *Need the most recent 30 days*
- Most recent two years federal tax forms along with the most recent two years W-2 forms for all employment contained in the taxes.
- Two months of bank statements showing earnest money has cleared your bank account. This might require a statement printout. Be sure to have the bank stamp that. We need to cover a full 60 days, however you want to provide that. Any large deposits that do not show as a direct payroll deposit will need to be documented as to their source. A quick letter stating where the money came from along with a copy of the check, invoice, etc., that ties that all together.
- Copy of gift money, gift letter, and bank statement showing they had the money to give *See steps below
- 401k/Retirement fund paperwork if using for down payment/cash to close.
Additional Documentation and Important Notes
- Appraisals need to be paid for at the time they are ordered. Please contact our office at (208) 524-8384 with debit card information to process this request. Appraisals are ordered after inspections have been completed and all parties are satisfied with the results.
- www.finallyhomecourse.com Attend the online course, only one borrower needs to attend. I need the certificate you receive at the end, please email.
- Bankruptcy papers along with the discharge of debtor form.
- Mortgage statement showing current tax and insurance premiums are in the monthly payment. If there is not an escrow account, please provide the declaration page to insurance showing premium amount and the current tax bill for the property.
- Letter explaining the items on credit that contain late payments or are considered collection or judgment status. A copy of your credit report will be sent to you securely for your review. Please have the letter outline the following: What was going on for these accounts to be reporting negative to credit, how is this situation temporary in nature and what have you done to prevent from this happening in the future. Please sign this letter.
- Divorce decree showing current child support obligations and property/debt settlement at the time of divorce.
- Letter stating what these inquiries were on credit - see attached letter.
Gift Fund Required Documentation
- Option #1
*Donor and borrower to sign gift letter and fill out
*Donor to give borrower a check for amount gifting
*Borrower deposits check to bank account, shows 30 day printout, stamped by bank, showing the ending balance with the money in it that we need
*Check clears donors account, donor provides bank statement showing sufficient funds to clear the check amount.
- Option #2
*Donor and borrower to sign gift letter after filling out
*Donor provides a cashier’s check to selected title company made to title company on behalf of borrower
* Donor provides 30-day bank printout showing sufficient funds to clear the check amount with donors name, partial account #