Track the information and papers to be provided when applying. 

• Complete legal name, social security number, date of birth
• Primary telephone number, email addresses, current addresses, and past addresses in the last two years
• Gross income, including primary, secondary, and part-time employment plus overtime, bonuses, and fees when appropriate.
• Secondary revenues, including veteran benefits, disability payments, alimony, child support, and rental/investment revenues, and amounts considered for repaying that borrowing
• All firms’ names, addresses, and phone numbers in the previous two years
• Each bank’s value, pension, investment, and other asset accounts
• Expenditures including living, credit card, loan payments, child support, etc.
• The original price, year of purchase, the current market value estimate
• The sum of all debts secured by the property

Documents

You will ask for any or all of the papers specified below by your mortgage specialist. Be prepared to supply extra papers as your application progresses.

Income / Employment / Assets

• Application for a tax transcript, completed, signed, dated IRS Form 4506-T
• Pay stubs spanning the latest 30 days include information from year to year (for all jobs and applicants)
• W-2s in the last 2 years
• Over the last two years, federal tax returns (1040)
• Written explanation if there is a job gap or a job gap for less than two years
• Asset / Bank statements — Most recent reports for all accounts in the application for two months — all pages

Credit:

• Late payments, collections, judgments, or other negative factors present in credit history Letter of Credit Explanation
• Documentation of the source of money for significant asset deposits (outside of payroll or gift fund deposits)
• The judicial decision for every duty owing to legal action Court order (example: lawsuit, judgment, child support)
• Insolvency  of bankruptcies in the history of credit
• Public service, phone company, cable, automotive insurance, and other expenditures payment history

If Self-employed

Federal tax returns – completed copies for the previous 3 years (personnel and company returns).

Statement of profit and loss — year on year

All company debts list

Other

Driving License and card of social security — readable copies.

Insurance hazard information, including the name and telephone number of the agent

Consult with your legal adviser regarding the loss of any benefits to which you entitle under the Civil Relief Act of your Servicemembers or the appropriate state legislation if you are an active-duty servicemember before pursuing a refinancing of your current loan.

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