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DOCUMENTS NEEDED
CHECKLIST
This list may
include items that do not pertain to your particular circumstances. We have
indicated with a check mark those items we need in order to process your
loan. If you have any questions regarding this list, please do not hesitate
to call the Peterson Team 405-819-6806. We are happy to be working with you
and we want to help you in any way we can.
While your loan is in
process DO NOT change jobs, increase your debt, open any new accounts,
co-sign for anyone, or have any late payments. Any of these may adversely
affect your ability to get a loan.
INCOME
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Pay Stubs (consecutive pay
stubs to cover most recent 30 day period) if you are salaried.
q
W-2s: 2006 & 2007
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Tax Returns: 2006 & 2007
Personal Tax Returns (with all schedules and statements) if you are self
employed, or are using commission, bonus, rental income or interest &
dividend income to qualify.
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Form K1: Copy of 2006 & 2007
if listed on Schedule E of your personal tax return.
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Tax Returns: 2006 & 2007
Partnership or Corporate Tax Returns if you own >25% of the company
supplying you with the K1.
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2008 Year To Date Profit or
Loss Statement and Balance Sheet.
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Previous year’s year end
profit and loss statement and balance sheet if you have not filed your
current year’s tax return.
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Copy of your divorce decree
and separation agreement, if you are using child support, separate
maintenance or alimony for qualifying income.
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Copy of Trust Agreement if you
are using it for qualifying income.
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Copy of current rental leases
if you are using rental income to qualify (residential rentals only).
q
Copy of pension and/or Social
Security award letters if you are using income to qualify.
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If you have an employment gap
greater than 2 months over the last two years please write an explanation
letter stating why the gap in employment.
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If we are doing a “Stated
Income” or “No Income Verification” loan please give us a copy of your
business license or a letter from your CPA showing/stating you have been in
business for at least two years if you are self employed.
ASSETS
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Bank Statements: most recent 2
months (all pages) for monetary asset accounts (i.e., checking, savings,
mutual fund accounts, IRAs, 401ks, etc.)
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Brokerage accounts: most
recent 2 months of all pages for accounts like Charles Schwab, Paine Webber,
mutual funds, etc.
q
IRAs, 401ks and/or Keoghs:
copy of most recent quarterly statement if that is what you get.
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Gift letter if you will be
receiving a gift for the purchase.
LIABILITIES
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If you have a bankruptcy in
your past please supply a copy of the papers you filed (all pages).
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If you have a bankruptcy in
your past please supply a copy of your discharge document (all pages).
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Copy of your divorce decree
and separation agreement, if you are paying child support, separate
maintenance or alimony.
REFINANCE
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Copy of your most recent
mortgage statement for first mortgage.
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Copy of note and deed for
first mortgage.
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Copy of your most recent
mortgage statement for second mortgage.
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Copy of note and deed for
second mortgage.
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Copy of your original HUD1
Settlement Statement from closing.
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Copy of current evidence of
insurance.
MISCELLANEOUS
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Copy of drivers
license
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Copy of Social Security card
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$14.75 for credit report
(single) OR $16.00 (couple) [to pay with credit card: $15.50 or $16.80]
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A good copy of your purchase
contract with all signatures including any and all counter proposals.
q
Name and phone number of your
insurance agent who will be providing homeowner’s insurance.
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Copy of your DD214 (VA only).
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Copy of your Certificate of
Eligibility (VA only).
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Copy of your Resident & Social
Security Cards if you have Resident status and are not a US Citizen.
PLEASE NOTE: ADDITIONAL
INFORMATION MAY NEED TO BE REQUESTED BY THE PETERSON TEAM AS WE FURTHER
PROCESS YOUR LOAN.
Richard & Mary Jo Peterson,
Benchmark Mortgage, call 819-6806, Fax-843-0200
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