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I’m often asked what information and documents are needed to apply for and approve any type of mortgage loan. While that can vary depending upon if an applicant is self-employed, retired, paid hourly, paid by salary, a veteran, or owns other real estate I have attempted here to define what could be asked for to help everyone understand what any mortgage lender might request on a conventional or FHA insured mortgage. I hope you find it helpful.

  • Employer(s) name, address, phone, your start date, job title, base or hourly salary for all jobs over the last 24 months.
  • You current address(s) and monthly rent paid for the last 24 months.
  • Two photo IDs. If possible, please take a photo of these with your Smart Phone and email them to me. This ensures they are legible.
  • One month of most recent Pay Stubs.
  • Most recent two years of Federal Tax Returns. Please make sure Page 2 is signed from each tax return at the bottom next to “Sign Here“. Include 1120 business returns also if you file them with any K1 forms.
  • Most recent two years of W2s and any 1099s or evidence of unemployment benefits received. If receiving Social Security income please include current year Award Letter.
  • Most recent two months of Checking/Savings Account/Asset  statements, all pages, even worksheets or blank pages. Please provide a signed Letter of Explanation and source copies for all non-payroll deposits exceeding $500 seen in the Deposits section as we are required to trace & source all unknown deposits per the Bank Secrecy Act & Patriot Act regulations on mortgage lenders.
  • Most recent quarterly statement for Retirement Accounts, all pages.
  • If you own additional real estate, please provide Mortgage Statement, Homeowner’s Insurance premium page, monthly Condo Fee proof, Property Tax Bill for each property & lease copies.
  • If purchasing new property proof of Earnest Money deposit w/ corresponding bank statements showing all Earnest Money checks or Cashier’s checks are cleared from the account as occurs.
  • Divorce Decree, if applicable.
  • Bankruptcy, Short Sale and Foreclosure documents, if applicable.

I hope this post has been helpful and encouraging to those that may have thought a Renovation project was too complex or beyond their ability to manage. My intent is always to inform, educate, and generate discussion. Please call me or email me directly or visit my website for more information on renovation loans. I welcome your comments and questions!