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847-797-9500 | Art LaValle

The Documents

Document Requirements for Your Home Loan

THE DOCUMENTS

EMPLOYMENT HISTORY
  • Employer's name, address and phone number for each of your employers over the last two years
  • Copy of college diploma and school transcripts, if a full-time student in the last two years
INCOME INFORMATION
  • Appraisal fee made payable to Platinum Home Mortgage
  • Consecutive pay stub(s) that cover a minimum of 30 days year-to-date earnings from all jobs
  • W2s and/or 1099s for the most recent two years
  • Signed complete Federal personal tax returns for most recent two years with all Schedules
  • Signed complete Federal business tax returns for most recent two years, with all Schedules, when applicable
  • Year-to-date profit and loss statement and balance sheet for self-employed borrowers
  • Letter of explanation to address any gaps of employment over 30 days in the last 2 years
  • If alimony and/or child support payments are to be considered for income, provide a copy of the divorce decree or court order along with documents showing evidence of receipt of payments for most recent 6 months and continuance for next 3 years
  • For non-employed sources of income, provide pension statements, awards letters or other appropriate documentation to support income
ASSET INFORMATION
  • Most recent two months statements (all pages) for all checking, savings and money market accounts
  • Most recent monthly statement establishing ownership in: stocks, bonds, mutual funds, CDs, retirement accounts, employee savings plans, etc.
  • Documentation of any deposits listed on bank statements that are not direct deposits from payroll
  • For purchase transactions, provide documentation of all earnest money given and evidence of funds clearing your bank account
  • Copy of HUD-1 closing statement for any property sold in the last 12 months
  • If receiving gift funds:
    • Gift letter signed and dated by you and the gift donor
    • If gift already received, copy of gift check, evidence of withdrawal of gift funds from donor’s account and poof of deposit into your bank account
RESIDENCE HISTORY
  • Addresses for each of your residences over the last two years
  • If renting in most recent 12 months, provide landlord name, address and phone number
CURRENT REAL ESTATE OWNED
  • Property address and market value for each property
  • Mortgage statement, homeowners insurance, property real estate tax bill and homeowner’s association bill
  • Copies of leases on any rental property
  • If any of the current real estate owned will be rented out after the close of this loan, provide:
    • Signed copy of rental agreement showing monthly rent and a minimum 12 month term of lease
    • Evidence of receipt of security deposit and/or first month’s rent
LIABILITIES
  • List of all outstanding loans and credit cards including balance and monthly payment
  • Copy of student loan statements, if applicable
  • If currently paying child support or alimony, copy of divorce decree or court order
  • If you have applied with another lender/creditor for credit in the last 120 days, provide a letter of explanation
  • If any new debt was obtained, provide a copy of the loan documents
BANKRUPTCY
  • Copies of full bankruptcy papers including all schedules and discharge letter
SALES CONTRACT
  • If you will be purchasing a home, provide the completed and signed sales contract and all addendum
  • Name and number of homeowner’s insurance agent
IDENTIFICATION
  • Valid driver’s license or other valid government photo identification
  • Valid U.S. military ID
  • Valid resident alien card, if applicable
  • Valid passport and visa, if applicable
VA LOAN APPLICANTS
  • Military discharge papers (Form DD214)
  • Certificate of Eligibility