a Lender’s “needs list” for financing real estate

Below is a list of items needed for financing; which can be sent to the Lender between now and when you have a property under contract:

  1. Lender Needs ListLast 60 days of pay stubs
  2. Complete 2010 and 2011 FILED tax returns (all pages, schedules, and w2’s)
  3. All 2012 W-2’s
  4. Bank statements for most recent 2 months (all pages)
  5. Most recent retirement account statements (all pages)
  6. Copy of drivers licenses and social security cards for all applicants
  7. Employer contact info to verify employment
  8. Realtor contact info to help with contract preparation
  9. Your chosen homeowner’s insurance agent contact info
  10. Credit card authorization or check for appraisal fee (fee determined by lender)

If you have fixed income

  1. Annual Social Security Benefits statements
  2. Documentation of other retirement income (if applicable)
  3. 1099’s for 2010 and 2011 and 2012 for all fixed income

If a VA or Texas Veteran loan:

  1. DD-214 “Member 4 Copy” or other discharge papers
  2. Reserves “Point Statement” if no active duty service
  3. Statement of Service for current active duty applicants
  4. VA Award Letter with disability rating (if applicable)
  5. Complete military orders (if applicable)

If you are self-employed:

  1. DBA or other proof of self-employment start date
  2. Two full years of personal and corporate tax returns
  3. Year-to-date Income Statement for business
  4. Current Balance Sheet for business

If you have investment properties:

  1. Property tax bill/receipt for investment property
  2. Recent mortgage statement for investment property
  3. Homeowner’s insurance binder for investment property

If applicable:

  1. Complete bankruptcy discharge papers (all pages)
  2. Signed Letter of Explanation for bankruptcy (when & why)
  3. Complete divorce decree (all pages)

Digital copies are fine if sent by email.  Keep in mind that this is a preliminary list.  The Lender  will have another (shorter) list after your loan is in processing and again after your loan is approved.

*The Above information is common, but is not guaranteed accurate. Contact our office to let us match you with an experienced lender specific to your needs; or get started with one of our favorite Lenders by filling out a mortgage pre-qualification work sheet here.

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