In general, the documentation you will need includes:
Check for appraisal fee (typically $375)
Property Information (if you already have a contract on a house)
Purchase Agreement.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).
Income & Assets
Pay stubs for the last 30 days.
For the past two years:
Names and addresses of each employer.
W-2s
Statements for each bank, mutual fund, and/or investment account for the last three months.
Estimated value of personal property and furniture.
If you have made any large deposits to your accounts:
Explanation and source for deposit.
If large deposit was a gift:
Signed gift letter (lender can supply).
Copy of gift check.
Copy of deposit receipt.
If you own more than 25% of a business:
Corporate or partnership tax returns.
If Self-employed or Commissioned/Tipped Wage earner:
Tax returns for the last two years (with schedules).
Year-to-Date Profit and Loss Statement prepared by an accountant.
If you own rental property:
Tax returns for the last two years and current rental agreements.
If you are retired:
Pension Award Letter.
If you receive Social Security:
Social Security Award Letter.
If you are counting child support as income:
Copy of divorce settlement.
Copy of twelve months of cancelled child support checks.
Debts
Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
VA Loans
Copy of DD Form 214, Report of Separation.
Miscellaneous
Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.
Thank you for visiting. You have made the first smart step in home financing. Learning as much about programs and the approval process will make achieving your home financing goals a snap! Molly Lionberger is the Assistant Vice President and Sr. Loan Officer at FBT Mortgage, a subsidiary of First Bank and Trust. She has helped hundreds of families understand what it takes to get low interest rate loans on the Mississippi Gulf Coast. She also has the skill to assist savy investors purchasing GO ZONE eligible investment/rental properties.
Whether you are a first time home buyer, with many questions or a savy real estate investor, Molly Lionberger at FBT Mortgage, a subsidiary of First Bank and Trust has hundreds of products to fit your needs. Please complete the secure on-line loan application. Our team looks forward to helping you achieve your purchase, refinance or reverse mortgage needs. Equal Housing Lender.
