* Pay stubs – most current 30 days.
It’s possible that we may ask for updated pay stubs before closing.
* Checking & savings statements – most current 2 months.
I need all the pages even if they are blank. If your statement says page 1 of 7, I need all 7 pages.
* Tax Returns & W-2’s – most current 2 years.
(I only need Federal, not the state returns). I will need ALL schedules in your tax returns. I know – there may be a lot of pages but we do need them all.
* 401k or other retirement statements – Most current.
I will usually only need one since they are provided quarterly.
* Money market or investment accounts – most current two months.
Again, I will need all pages of the statements.
* Copy of driver’s license.
If any of the below apply, additional documents may be needed.
Bankrupcy in the last 10 years?
* Bankrupcty discharge paperwork wil be required.
If you can’t find them let me know and I can often get them for you but it usually takes me longer than if you have them.
I will need a copy of your divorce decree.
The reason why this is being asked for is to ensure you have no financial obligation to pay child support, alimony or other financial obligation.
* K-1’s for all business listed on tax returns.
*If you own more than 20% of any business,
business tax returns for those business will be required.
* Current P&L – from beginning of the year to current.
Profit & loss statement may be required. I will let you know if we need it.
Did You Just Sell Another Home?
Closing statement from the sale of that home. If you are closing on your new home at the same time as you are closing on the sale of your old home, we will be able to coordinate obtaining the settlement statement so your new home purchase is not held up.
Getting a Gift for Down Payment?
* Signed gift letter.
Ask me and I will send one to you.
* Source of the gift such as bank statements for gifting party.
We have to verify that the gifting party has the funds to gift to you. If they have borrowed the funds, I will need to know what kind of loan and will need to obtain that paperwork.
Are We Obtaining a Grant for the Down Payment?
* Pay Stubs – One additional month for a total of 2 months
* Tax Returns & W-2s. One additional year for a total of 3 years.
* Home Buyers Class
Most grants requires this but a few don’t. Be sure to check with me and I will let you know if the grant we are using requires is and where you can take the class.