Documents needed for FHA/VA Loan
The most important thing to understand is that the loan approval process is 100% dependant on your documentation. To ensure a smooth transaction, it is imperative that you have all your documents gathered prior to you initial loan application. Following is a list of all the documents you will need.
- Most recent 2 years complete tax returns with all schedules.
- Most recent 2 years W-2’s, 1099’s etc.
- Most recent pay stubs covering 30 days period showing YTD earnings.
- If Applicable: Self-Employed Borrowers will need 2 Years Personal Tax Returns and 2 Years Corporate Tax Returns & YTD Profit and Loss Statement.
- Copies of Social Security, Pension, and/or Retirement award letters.
- Most recent 3 months complete bank statements for any and all accounts with all pages.
- Most recent statement from retirement, 401k, mutual funds, money market, stocks etc.
- Most recent statements from your bills, indicating minimum payments and account numbers.
- Name, Address, and Phone number of your landlord, or 12 months cancelled rent checks.
- If Applicable: Should have no credit. Copies of your most recent utility bills will be needed.
- If Applicable Copy of complete Bankruptcy and Discharge Papers.
- Written explanation of any credit derogatory.
- If Applicable: Divorce decree.
- If Applicable: If you co-signed for a mortgage, car, credit card, etc, need 12 months cancelled checks. Front and rear indicating you are not making the payments.
- Copy of Drivers License.
- Copy of Social Security Card.
- If Applicable: Copy of complete Divorce decree, Palimony, Alimony Papers.
- If Applicable: Copy of Green Card of Work
- If Applicable: If you own another home(s) – see below
Copy of your Sales and Purchase Contract with Listing and Selling Agent contact information. (Phone Numbers & Email information)
If a Refinance or you own Rental Property
- Copy of Note & Deed from current loan
- Copy of Property Tax Bill
- Copy of Hazard (homeowners) Insurance Policy.
- Copy of Payment Coupon for current Mortgage.
- If Applicable: If property is multi-unit need Rental Agreements.
Additional Documents needed for a VA Loan
- Original Certificate of Eligibility.
- Copy of DD-214 Discharge Paper.
- Name and Address of nearest living relative.
Additional documents may be needed upon review of your file and on a case-by-case scenario. Also bring a check for expense of appraisal and credit report.
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