Documents Required at Time of Application

The following items are necessary to quickly process your mortgage application. It is very important that the items that pertain to you are obtained for the application, otherwise, the processing time of your loan will be significantly delayed.

• Copy of Real Estate contract signed by all parties.

• Current paycheck stubs over a 30 Day Period showing year-to-date earnings, PLUS 2 years W2’s.

Self Employed applicants will need to bring in complete, signed, Federal Income Tax returns for the most recent 2 years.

• 3 months current bank statements for all active accounts including checking, C.D.s, savings, money market, or credit unions. Stocks to be used for down payment or closing costs must be liquidated and deposited into an account.

NOTE: A personal check used for earnest deposit must clear the bank before we can submit for approval. It is best to purchase a money order or cashier’s check for earnest deposit.

• List of ALL open accounts, including account numbers, MINIMUM monthly payments and approximate balances owed.

It is generally helpful to submit copies of current bills or statements. Be prepared to submit written explanations regarding reasons for late payments, collections, judgements, or bankruptcies. NOTE: Unsecured loans for down payment are NOT ALLOWED.

• 12 months cancelled rent/mortgage checks.

If not available, we will write to mortgage holder/land lord.

• Photo ID (Drivers License) plus Social Security card (FHA/VA only).

• If applicable, we will require divorce decrees, schedules and discharge of bankruptcy, court releases of judgements, paid-in-full statements from collection agency, alien registration cards, DD214 Military Discharge, certificate of eligibility for veteran’s loans, and attorney name and phone number.

• Application Fees: (Covers the cost of appraisal and credit reporting) $300.00, VA -$350.00

• Additional charges:

2-4 unit buildings — $450.00 Appraisal Fee
Credit Report — $50.00 Each Additional
Commercial Credit Report — $50.00