Today’s mortgage environment is extremely regulated.  All loans and borrowers are deeply scrutinized and each and every document you provide will be analyzed.  We do our best to be as thorough as possible when we ask a borrower for paperwork.  However we may have to come back to you with additional requests.  Please respond immediately to a call or email from me or one of our team members so that together we can meet your deadline.  We need to work as a team and you are an integral member.

 Income:

• Two recent pay stubs
• Recent W2
• First page of most recent Federal tax returns
• See page two for self-employed borrowers
• Pages 1 & 2 of 1040 and Schedule A to verify unreimbursed employee expenses 

If receiving alimony and/or child support:

• Separation agreement
• Evidence that income has been received for 3 months (may require 6 months) in the form of deposits, cancelled checks or bank statements showing consistent deposit stream
• Evidence of child support/alimony payments 

Assets:

• Two months’ bank statements (all pages)
• Two months’ investment or money market statements (all pages)
• Two months’ retirement statements (all pages — may be required for reserves)
• Name and address of donor (if receiving gift — may require gift letter)
• If borrowing from 401K, documentation to verify payment
• Documentation of sources of any deposits of $1,000 or more 

Property:

• If a condominium, property may require master deed, budget, bylaws; may require an engineer’s report if converted within the past three years
• Contact details for condominium management company (or a trustee, if self-managed)
• Contact details for condominium insurance agency
• H06 insurance is required for all condominiums (most associations do not have it as part of their master insurance) — borrower will have to obtain at least two weeks prior to closing.
• If not a condominium, insurance binder required one week prior to closing 

Other:

• Fully executed purchase and sale agreement (when available)
• Application fee (you will be contacted for this once you have received and reviewed your application paperwork)
• Driver’s license (for all borrowers)
• If you own a second home or rental property, your loan officer will review and request documentation as need

Documentation Checklist (Self-Employed Borrowers)

Sole Proprietorship

If the borrower received income from a sole proprietorship, the following documentation is required (as applicable):

• US Federal 1040 with all applicable schedules attached
• Schedule C (Profit & Loss from Business)
• Schedule D (Capital Gains & Losses)
• Schedule F (Profit & Loss from Farming)
• Year-to-date Profit & Loss statement 

Partnership (General, Limited or LLC)

If the borrower is a partner in a general or limited partnership, or is a limited liability company member, the following documentation is required (as applicable):

• US Federal 1040 with all applicable schedules attached
• Schedule E, Part II (Income or Loss from Partnerships)
• Schedule K-I 1065 (Partner’s Share of Income, Credits, Deductions, etc.)
• Form 1065 (US Partnership Return of Income) with all applicable schedules attached
• Year-to-date Profit & Loss statement
• Partnership agreement (may be required) 

S Corporation

If the borrower received income from an S Corporation, the following documentation is required (as applicable):

• US Federal 1040 with all applicable schedules attached
• Schedule E, Part II (Income or Loss from S Corporations)
• Schedule K-I 1120S (Shareholder’s Share of Income, Credits, Deductions, etc.)
• Form 1120S (US Income Tax Return for an S Corporation) with all applicable schedules attached
• Year-to-date Profit & Loss statement 

Corporation

If the borrower received income from a corporation, the following documentation is required (as applicable):

• US Federal 1040 with all applicable schedules attached
• Form 1120S (US Corporate Income Tax Return) with all applicable schedules attached
• Year-to-date Profit & Loss statement