Documents Needed For All Mortgage Loan Applications for FHA, VA, USDAS, Fannie Mae Loans in Kentucky
Copies of W-2’s for the last two years;
Copies of paycheck stubs for the last 30 days (most current);
Copies of checking and saving account statements for last three months (all pages);
Copies of quarterly or semi-annual statements for checking, savings, IRA’s, CD’s, money market fund, stock, 401k, profit sharing, etc.;
Copy of sales contract when ratified;
Employment history for the last two years (address any gaps of employment);
Residency history over the last two years, with name, phone number, address and account number of Land or Mortgage Company. Rental property copies of leases plus mortgage information.
Canceled earnest money check when it clears or corresponding bank statement, if applicable;
Commissioned or bonus income — if 25% or more of base, must have tax returns;
Check for the expense of appraisal & credit report;
Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
If paid off mortgage in the last 2 years, need copies of HUD1;
Copy of drivers license for applicant and co-applicant.
Copies of most recent 2 years tax returns (with all schedules including k-I’s if applicable);
Copy of current profit & loss statement and balance sheet;
Copy of corporate/partnership tax returns for most recent 2 year period if owning 25% or more of company — copies of W-2’s and/or 1099 forms.
DOCUMENTS WHICH MAY BE REQUIRED:
Relocation Agreement if move is financed by employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits;
Previous bankruptcy, need copies of petition for bankruptcy and discharge, including supporting schedules;
Divorce Decree if applicable;
Documentation supporting moneys received from social security/retirement trust income, i.e. copies of direct deposit bank statements, awards letter, evidence income will continue.
DOCUMENTS NEEDED FOR FHA/VA LOANS:
FHA: Copy of social security card and drivers license for each applicant and co-applicants;
VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper;
VA: Name and address of nearest living relative
Senior Loan Officer
text or call my phone: (502) 905-3708
email me at
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org).
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.
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What Income docs do you need?
Social Security Awards letter (Current Year)
To Determine if you can gross up (Follow Product guide-FHA/Conv. Etc)
and review 1040 Tax return Line 5.. 5A will show non taxed income and
5B will show taxable portion – you can only gross up non taxable
Pension Benefits Letter – Must show Minimum 3 year continuation – most will be lifetime -letter must state lifetime or other timeframe
2 years W2’s
2 Years 1040’s with all schedules (These are your personal tax returns).
The tax returns will tell you what other documents are needed
1040 – Page 1 Line 7 will tell you if there is any W2 income.
people also pay themselves w2 income often. You will need all w2’s that
when added up match the $ amount entered on line 7 of the 1040
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