PAY STUBS | Pay Stubs are the portion of your pay check that shows what you have been paid for the year so far, how much has been withheld for state and federal taxes and so forth. If indicated by your loan officer, we need copies of your pay stubs for the last four consecutive weeks for you and your co-borrower. |
W-2 | W2 Forms are the forms your employer provides at the end of the year to report what you were paid and how much tax was withheld. You will need to provide W2's for the last two years for both yourself and co-borrower if applicable. If you are not being paid W2 income (for instance, if you are retired and receiving social security), you do not need to provide W2's. You can usually find copies of your W2's attached to your tax returns. |
HOMEOWNER'S INSURANCE | The Homeowners Insurance Declarations page is usually the first page of your Homeowner’s Insurance Policy. It will say "Declarations" on it. This states the property that is being insured, the amount of insurance, and any special policies or provisions that apply to your property. |
WARRANTY DEED | The Warranty Deed is the deed to your property. You received this either at the closing of your first mortgage or shortly thereafter. If you do not have a copy, you can get one from the Registrar of Deeds in the county clerks office in the county in which your home is located. |
RETIREMENT DOCUMENTS | If you receive all or a portion of your income from social security, a retirement fund, or a pension fund, we will need copies of the following documents as they apply to your situation. You do not need to provide this documentation if you do not receive retirement income from any source. |
SOCIAL SECURITY LETTER | The Social Security Letter is provided by the Social Security Administration. It tells you when your benefits begin, how much you will receive, and when you will be receiving the checks. If you do not have this letter,contact the Social Security Administration to get a copy. If your co-borrower is also a social security recipient, you need to provide this for your co-borrower as well. |
SSA 1099 | This is the Form issued by the Social security Administration at the end of each year for tax purposes. If you have been receiving social security for two years or more, we need copies of the last two years forms for you and your co-borrower if applicable. You can usually find copies of the form attached to your tax returns for the same period. |
SELF EMPLOYMENT DOCUMENTS | If you receive all or a portion of your income from self employment, we will need copies of the following documents as they apply to your situation. You do not need to provide this documentation if you do not receive self employment income of any kind or if your loan officer has informed you that these documents are not required. |
IRS FORM 1040 | This is the form that you file each year to pay your federal income tax. This documentation is required for most loans when a borrower does not receive a W2. This is used to verify your taxable income. If your co-borrower files a separate 1040, a copy of that 1040 is also required. You need only provide the first page and the second page with your signature IRS Form 1040 Schedule C. If you file a 1040 with the IRS that includes a Schedule C (Profit or Loss From Business) we will need a copy of that page as well. |