Loan Documents

What documents do you provide for home loan application?

This may sound old-fashioned, but the whole banking system runs on TRUST.  In order to qualify for a loan, you will need to provide proof that you can pay back what you borrow.  The way a bank feels they can trust you is by varifying what you say through paperwork.   It starts with your identification, income, assets, a sales contract and proof of insurance (for a purchase), or a current mortgage statement, home owners insurance policy declaration page, and a HOA statement if applicable (for a home refinance).   You will also need to sign some forms that authorize the lender to pull your credit, and to begin the application process. There may be additional documentation needed, but below is a list of the general items needed to obtain a loan to purchase a home or to do a refinance.  There are also PDF’ below that you can download.

For your identification you will need to provide 2 of the following items:

  • Copy of all Borrowers Social Security Cards
  • Copy of all Borrowers Drivers Licenses
  • Copy of all Borrowers Passports

You will also need to provide proof of Income History.  That will include all of the following:

  • 30 Days of most recent PAYSTUBS for all all borrowers
  • Past 2 years of Tax Returns
  • Past 2 years W-2’s (or 1099’s for self-employed

For proof of assets you will need to provide the following:

  • 2 months of Bank Statements (all pages)
  • Most recent 401K, retirement and/or brokerage account statement)
  • Rentals (Mortgage statements, HOA statement, Proof of Insurance, Rental contract)

For a Home Refinance Application you will need to provide the following:

  • Current Mortgage Statement(s)
  • Declaration page of your Home Owner’s Insurance Policy
  • Current Home Owner’s Association (HOA) Statement (If applicable)

For a New Home Purchase you will need to provide the following:

  • Signed Real Estate Contract for property with terms
  • Current Home Owners association (HOA) statement (if applies)
  • Proof of Insurance
  • Down Payment Amount $________________

You will also need to sign an Authorization for to authorize the lender to order and purchase an Appraisal.

Below are some PDF’s with a list of documents you can download and print.

If you have any questions you can call me at 858.752.3461 or email me at loanguide@jaredmcbride.com