What you need to get ready before applying for a mortgage loan – New American Funding

In general, the documentation you will need includes:

Property Information (if you already have a contract on a house)

Purchase Agreement.

If you have sold your current home, copy of final Closing Disclosure.

Income & Assets

Pay stubs for the last 30 days.

W-2's for the past two years.

Most Recent statements for each bank, mutual fund, and/or investment account (all pages) that you wish to include.

If you have made any large deposits to your accounts:

Explanation and source for deposit.

If large deposit was a gift:

	Signed gift letter (we 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 or you deduct business expenses:

	Tax returns for the last two years (with all schedules).
	Year-to-Date Profit and Loss Statement prepared by an accountant.

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 or child support order.

Debts

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).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and copy of Social Security card.

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.

For Refinance: Copy of current mortgage statement, property survey, original HUD or CD from purchase if available, current insurance policy/premium & current property tax bill/amount.