Excellence In Lending
A VACAVILLE PREMIER LENDER
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REQUESTED DOCUMENTS
Here is a list of information mortgage lenders may request to consider your Loan Application:
 
For all loans:
 
  • Social Security Card for each borrower.
  • Current Driver’s License for each borrower.
  • Most recent 2 year address history.
  • Most recent 2 years employment history; name of employer(s), dates of employment, employer address for current work location,  number of years on current job, number of years in same line of work/profession, current position, main business phone number for current work location.
  • Current paystubs covering most recent 30 consecutive days.
  • Last 2 years 1040’s (Federal Tax Returns), including all W-2’s and 1099’s.
  •  If applicable, Award Letters for Social Security Income and Pension Income and verification of receipt.
  • 2 months statements for all asset accounts, i.e. bank accounts, 401k’s, IRA’s, Investment Accounts (include all numbered pages).  All non-payroll deposits that exceed 10% of combined monthly gross income must be sourced/papertrailed. Any other deposits may require additional documentation, subject to underwriter discretion.  Prior to any questionable deposits, first discuss with us.
  • If a homeowner, current monthly mortgage statement, tax roll and home insurance policy on your property(s), and rental agreement if applicable.
  • If a purchase, please contact an insurance company of your choice and request an insurance quote for property once in contract.  Have insurance agent fax or email the quote to us showing coverage and premium amount.
  • If renting, 2 year residential history showing name, address and phone number of landlord(s).
  • List of liabilities and balances.
  •  If applicable, bankruptcy papers, divorce papers or explanation for delinquent accounts.
 
Other income information that may be requested:
 
If you are self-employed:
  • 2 years 1040’s (Federal Returns) for Sole Proprietorship
  • If a Partnership, include 2 years 1065’s and K-1’s
  • If an S-Corp , include 2 years 1120S and K-l’s
  • If a regular Corporation, include 2 years 1120’s
  • Note: current Balance Sheet and Profit and Loss signed by a CPA may be required.

 

If you are employed by a family member:

  • Most recent paystub(s) documenting 30 days income.
  • W-2’s covering the most recent 2 years.
  • 2 years 1040’s (Federal Returns), verifying no ownership interest in the company.  If not addressed in the personal tax returns, a CPA letter is required to verify no ownership in the company.
  • Written Verification of Employment covering the most recent 2 years.
  • A minimum of 24 months average of income must be used in qualifying.
 

If you are divorced or 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 do not have to) be prepared to provide 12 months cancelled checks or bank statements reflecting income deposits.

 

If you own real estate:

  • If you are selling your home but it has not closed: a copy of the sales contract.
  • If you have sold your home and it has closed and you will use the proceeds for your new down payment:  A copy of the Hud-1 Uniform Settlement Statement.
 

If you are buying a home:

  • Purchase Sales Contract or offer to purchase and all addendums and counter offers, fully executed with signatures of buyer, sellers and agents.
 

If  the 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 a part of your down payment.
 

For VA Financing:

  • DD214 and Certificate of Eligibility
 

For Construction/Perm Loan:

  • Contact us regarding permanent financing requirements.