INCOME:  Copy of all sources of your income:

P

2006 W2’s All borrowers All sources.

P

2006 Federal Tax Returns with all pages and schedules.  Or copy of Extension.  No State Returns.

P

2005 W2’s All borrowers All sources.

P

2005 Federal Tax Returns with all pages and schedules.  No State Returns. 

P

Paycheck Stubs covering current month showing current Year-To-Date (Y-T-D)  income.  Trades people provide last paycheck stub from each job or project this year.  Example of trades people: television, movie, entertainment industry, music or recording industry, production companies, programmers, translators, etc...

Corporate Tax Returns 1120 or 1120S last two years.

2006 K1's

2006 1065's and/or Corporate Returns

2005 K1's

2005 1065's and/or Corporate Returns

Copy of your annual Social Security Award Letter

Retirement Letters

Disability Income Documentation

Contract Income

Trust Income Documentation

Copy of leases on properties that you rent. (Not always needed)

Copies of Notes, Trust Deeds, Residual Contracts or Royalty Agreements.

ASSETS:  Copy of last two months statements ALL PAGES:

Do Not Highlight Balances.  Photocopy on one side of paper only.  Personal and Business Accounts for each category that applies to you:

P

Checking

P

Savings

P

Money Markets

CD's and/or Time Deposits

P

Brokerage Accounts

Online Stock Brokerage Accounts

Mutual Fund Accounts

ASSETS: Last Quarterly or Annual Statement ALL PAGES:

Do Not Highlight Balances.  Photocopy on one side of paper only. 

IRA’s

P

401(k)

503(b)

Pension

P

Retirement

Employee Savings Plan

Investment Plan

STRS Type Retirement Plans

PERS Type Retirement Plans

Motion Picture Industry Retirement Plan

 Insurance Policy with Cash Surrender Value.

The following documents are needed if they apply to you:

Copy of Bankruptcy Discharge Papers including ALL Schedules.

Copy of the release for any judgments that appear on your credit report. 

Divorce Decree and attached agreement including child support papers.

Paid receipts for any collection accounts.

Tax Liens have to be paid in escrow at closing

Collections have to be paid in escrow at closing

Judgments have to be paid in escrow at closing

Closing Statement HUD-1 for any property purchased or sold within 12 months of today

Condo.  Name of Homeowners Association, phone number and contact.

Gift Funds

Gift Funds (If part of down payment is a gift, please follow this procedure.)

Standard Gift Letter.  We will fax or mail to you.

Photocopy of gift check.

Photocopy of deposit slip from bank that shows you deposited gift.

Photocopy of Donors bank statement with sufficient funds.  Please let Donor know that the lender is NOT interested in Donors finances.  They only want to verify the amount of gift.  Don’t black out account numbers or cover up part of the bank statement, it only confuses the underwriter.

Verification of Mortgage (Required if payment history not on credit report)

Copy of last 12 months cancelled checks for Mortgages
This condition needed only if your credit report does not show a full 12 month history for current mortgage. We will let you know if this document is required.  If you do have to do this, here is how we like to get them.  Put checks in order from oldest to current date.  Put Four checks on the copy machine at a time and copy on letter size paper.  Flip checks over  exactly in the same order to show back of the cancelled checks.  Photocopy again. Repeat on a total of 12 checks.  When you are finished you will have six pages total.  Three pages of 4 check fronts and three pages of 4 check backs. Confused? Call us first.

Verification of Rent (Required if down payment minimal)

Copy of last 12 months cancelled checks to prove RENT paid on time.  We can mail a "Verification of Rent" to your landlord instead of the checks.  If you are not ready to inform your landlord of your intentions give us copies of your rent checks.  If you do have to do this, here is how we like to get them.  Put checks in order from oldest to current date.  Put Four checks on the copy machine at a time and copy on letter size paper.  Flip checks over  exactly in the same order to show back of the cancelled checks.  Photocopy again. Repeat on a total of 12 checks.  When you are finished you will have six pages total.  Three pages of 4 check fronts and three pages of 4 check backs. Confused? Call us first.