Here is the list of required loan documents that will allow me to provide you with a Power Loan Pre-Approval so you can write offers with confidence. It also allows me to evaluate your finances for refinancing your existing loan. Most of the documents you have can be found electronically on provided electronically. You can also download the Adobe Acrobat App on your smart phone or tablet and sign with your fingers on documents that require signatures) Call or email me so I can set up secure Drop-Box cloud access for you.
Recent two years of W-2’s. (allows lender to understand consistency of your income)
- Recent 30 days of pay-stubs (allows lender to know that your income is still continuing)
- Recent two months of bank, stock, and any other asset statements, such as foreign currency account (allows lender to evaluate your seasoned assets that can be used for down payment and/or required reserves)
- Recent (typically quarterly) 401-K and IRA statements plus any other retirement plan you may have (you can get a loan against typically the 401-K accounts for down payments)
- Recent two years of tax returns (tax returns provide additional information to lenders whether you own any rental real estate, whether you have any ownership interest in the businesses, whether you have any consistent income from investments, or just to verify your W-2 incomes)
- Credit Authorization (allows us to run your credit report so we can understand your credit history, and your debts). Download the Credit Authorization, print, scan and send back with all other documents)
Following additional documents are required when you are refinancing or own any other real estate. Please provide following documents for each property you own, including the property you are refinancing.
- Recent Mortgage Statement
- Recent Property Tax Statement
- Insurance Declaration Page (Hazard Insurance or the HO6 policy)
- Recent HOA (home owner’s association) statement, if the property is located in a community.
It typically takes about 24 hours or less for us to review all provided documents, summarize your assets, income and debts and provide you with Power Loan Pre-approval. Own Sweet Home and we look forward to helping you.
Amit Inamdar Loan Consultant NMLS#236574.
All loans are originated through General Mortgage Capital Corporation, GMCC. NMLS#254895