COLORADOMORTGAGECENTER.COM

Home    Shop Mortgage   Conventional Loans   VA Loans   Cash-Out Mortgage   Difference Between FHA and Conventional Mortgage   Required mortgage Documents

Check Today's Mortgage Rate

Required Mortgage Documents

Documents Required for a Mortgage Approval
REFINANCE(Most common documents are highlighted • Documents apply for all applicants) 

    • W2’s for most recent 2 years(If applicable)
    • 2 Most Recent Paystubs or 30 days worth of pay history
    • 2 Months Most Recent Bank Statements » ALL PAGES
    • Copy of Driver’s License – Photo must be legible.
    • Contact Info for Homeowner’s Insurance Agent
    • Most Recent 2 Years Federal Tax Returns(If Applicable) » **Required for all FHA, VA, self-employed borrowers and borrowers who own rental properties. Not required for W2’d borrowers applying for conventional loan**
    • Fixed Income(If Applicable) » Must provide Awards Letter and/or 1099’s.
    • 401k(If Applicable) » Provide most recent quarterly statement » ALL PAGES
    • Rental Income(If Applicable) » Need most recent federal tax returns w/ALL Schedules
    • Debt Consolidation (If Applicable) » cash-out conventional &FHA/VA) » Please provide 1 most recent statement for each account being paid off.
    • Permanent Resident Alien(If Applicable) » Provide Social Security Card & Permanent Resident Alien Card.

**Note** FHA & VA STREAMLINE ONLY requires copy of Driver’s license, NOTE, HUD-1, most recent mortgage statement and 2 months most recent bank statements(ALL PAGES)

PURCHASE(Most common documents are highlighted • Documents required for all applicants

    • W2’s For Most Recent 2 Years(If applicable)
    • 2 Most Recent Paystubs(If paid weekly must provide 4 paystubs or 30 days worth of pay history)
    • IMPORTANT » 2 Months Most Recent Bank Statements » ALL PAGES » Bank statements must reflect enough funds to cover your down payment/closing costs and earnest deposit(read below).
   • Copy of Driver’s License » Photo must be legible
    • Name & Contact Info for Homeowner’s Insurance Agent
    • Most Recent 2 Years Federal Tax Returns(If Applicable) » Not required for most conventional loans(FHA,VA & Self-Employed Only)
    • Purchase Contract & All Addendums(Your realtor will provide this)

    Name and number of the insurance agent that you want to use for your homeowners coverage
   • Fixed Income(If Applicable) » Must provide Awards Letter and/or 1099’s.
    • 401k(If Applicable) » Please provide most recent quarterly statement  » ALL PAGE
    • Rental income(If Applicable) » Need most recent federal tax returns w/ALL Schedules(State income tax not required)
    • IMPORTANT » Copy of Earnest Check – The earnest check is your deposit when you go under contract. You will write a check to the seller as a good faith commitment that you are ready to purchase the home. After your check has cleared the bank, we will need a copy of the front and back showing that the check has cleared!
    • Permanent Resident Alien(If Applicable) » Provide Social Security Card & Permanent Resident Alien Card.
    • Getting a Gift(If Applicable) » If you’re getting a gift from a family member for your down payment and/or closing costs, we will require a gift letter to be signed by the buyer and donor. Further documentation may apply.
    • Rent Verification(If Applicable) » Typically only required if  buyer has thin credit profile and we need to use rental history as a credit tradeline.

 

Check Today's Mortgage Rate