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Mortgage Saver
The Smart Way to Pay
Off Your Mortgage
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Mortgage Checklist
Be Prepared
When
You are ready to apply, please be prepared to provide the following
application and property information
Your
Property
-
Copy of signed
sales contract including all riders, if a home has been selected
-
Names, addresses
and telephone numbers of all Realtors, builders, insurance agents and
attorneys involved
-
Copy of Listing
Sheet and legal description if available (If the property is a
condominium please provide condominium declaration, by-laws and most
recent budget)
Your
Income
-
Copies of your
pay stubs for the most recent 30-day period
-
Copies of your
W-2 forms for the past two years
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Names and
addresses of all employers for the last two years
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If
self-employed or receive commission
or bonus, interest/dividends,
or rental income - provide full tax returns
for the last two years PLUS year-to-date Profit and Loss Statement
(Please provide complete tax return including attached schedules and
statements. If you have filed an extension, please supply a copy of
the extension)
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K-1's for all
partnerships and S-Corporations for the last two years (Please
double-check your return. Most K-1's are not attached to the 1040)
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Completed and
signed Federal Partnership (1065) and/or Corporate Income Tax Returns
(1120) including all schedules, statements and addenda for the last
two years. (Required only if your ownership position is 25% or
greater)
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If you will
use Alimony or Child Support to qualify -
provide divorce decree/court order stating amount, as well as, proof
of receipt of funds for last year
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If you receive
Social Security income, Disability or
VA benefits provide award letter from agency or
organization
Source of
Funds and Down Payment
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Sale of your
existing home - provide a copy of the signed sales contract on your
current residence and statement or listing agreement if unsold (at
closing, you must also provide a settlement/Closing Statement)
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Savings,
checking or money market funds - provide copies of Bank Statements for
the last 3 months
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Stocks and
bonds - provide copies of your statement from your broker or copies of
Certificates
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Gifts - If
part of your cash to close, provide Gift Affidavit and proof of
receipt of funds
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Based on
information appearing on your application and/or your credit report,
you may be required to submit additional documentation
Debt or
Obligations
-
Prepare a list
of all names, addresses, account numbers, balances, and monthly
payments for all current debts with copies of the last three monthly
statements
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Include all
names, addresses, account numbers, balances, and monthly payments for
mortgage holders and/or landlords for the last two years
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If you are
paying alimony or child support, include marital settlement/court
order stating the terms of the obligation
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A Check to
cover Application Fee(s). Telephone your Mortgage Specialist for the
exact amount.
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