In general, the documentation you will need includes:
Check for appraisal fee
Property Information (if you already have a contract on a house)
Purchase Agreement - fully executed with all signatures
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).
Income & Assets
Pay stubs for the last 30 days - including YTD earnings
W-2s for 2 years
Current Statements for each bank, mutual fund, and/or investment account for the last 2 months.
--Must include all pages (page 1 of 5, need all five pages)
--Internet Statement must have Name & Account number on page, or information that ties you to the account
--If you have made any large deposits to your accounts:
Explanation and source for deposit.
If large deposit was a gift:
Signed gift letter (lender can supply).
Copy of gift check.
Copy of deposit receipt.
If you own more than 25% of a business:
Corporate or partnership tax returns.
If self-employed:
Tax returns for the last two years (with schedules).
If you own rental property:
Tax returns for the last two years and current rental agreements.
If you are retired:
Pension Award Letter.
If you receive Social Security:
Social Security Award Letter.
If you are counting child support as income:
Copy of divorce settlement.
Copy of twelve months of cancelled child support checks.
Debts/ or Paying Off an Account
Last statement from account to pay off - be sure statement includes: Company Name(s), address, phone number, account numbers, balances and monthly payments.
Explanation of credit report anomalies, including:
Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
Home Owners Insurance
Name of Insurance Company, Agent Name & Phone Number
Miscellaneous
Photo ID/Driver's License
Proof of Social Security number
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.
The Avanti Team at Community Mortgage Services, Inc. 6040 Twinpoint Way Woodstock, GA 30189
