NEW HORIZONS FINANCIAL, INC.

Documents Needed for Residential 1003 Mortgage Loan Application.

The first step toward securing a mortgage loan is to collect the information needed to complete a loan application. Providing complete and accurate information will permit us to process the loan with greater speed and accuracy. This checklist itemizes information and documentation that is commonly used to process mortgage loans. We may ask for further documentation if such is required by government agencies or investors.

PERSONAL

• Photo Identification (Current Drivers License or State ID.) at closing.
• Name, address and phone number of all landlords from the past 2 years
• Social Security Card (FHA only)
• 2 years tax returns (all schedules)

• Name, address and phone number of all employers for the past 2 years
• Employment contract if applicable
• Relocation and/or buyout package if applicable
• Academic transcripts/diploma if recent student
• Most recent pay stub(s) covering a 30-day period and showing year-to-date income
• All W-2 and/or 1099 forms for the past 2 years
• 2 years tax returns (all schedules)
 

SELF-EMPLOYED BORROWERS & COMMISSIONED INCOME

• 2 years tax returns (all schedules)
• Current balance sheet & YTD income statements for the business owned

• 2 years signed business returns
• Evidence of quarterly tax payments (FRA only)

• 2 years signed partnership returns
• 2 years complete personal returns
• Current Profit and Loss statement

• Current lease agreement
• 2 years tax returns (all schedules)

• 2 years tax returns (all schedules)

• Copy of actual note
• 2 years tax returns (all schedules)

• Award letter
• All W-2 and/or 1099 forms for the past 2 years
• Evidence of recent receipt (check stub or bank statement)
• Proof of automatic deposit agreement if applicable

• 1 year cancelled checks or proof of receipt
• Printout of court registry, if applicable

• Most recent statement(s) for the past 1 month for each institution where funds are on deposit including IRA's & 401's.
• Estimated value of personal property, automobiles and real estate owned
• Copy of cancelled earnest money check if purchasing
• Gift money affidavit if applicable
• Copy of cancelled gift money check (preferably a cashiers check) if applicable
• Evidence of deposit of gift funds (deposit slip)
• Evidence of donor's ability to give gift (Conventional financing only)

• Name and account number for ALL creditors including but not limited to installment loans, car loans, credit cards, student loans, etc.
• Name, address and account number for all mortgages including current residence and rental properties
• Monthly child care expenses
• Child support, alimony or maintenance information

• Copy of DD214
• Original Certificate

• Copy of signed listing agreement or sales contract if present residence is to be sold
• Copy of signed purchase contract and any addendum(s)
• Final divorce decree and complete separation agreement
• Complete bankruptcy papers for last 7 years
• Closing documents for property sold or refinanced during the past 5 years
• $500 Good Faith Deposit for the credit report and appraisal