Documents Needed

The Documents needed to get a Loan

Before applying for a loan you may want to gather the documents that will assist you in completing the loan application. You will also need to provide those documents to our office as soon as possible.

Check	A. Please review the following checklist and provide documentation for all applicable items for each borrower.
	1. Paycheck stubs covering the last 30 day period.
	2. Last two years' W-2's
	3. Last two years' 1040 Tax Returns with all supporting schedules, if you: a.Have rental property. b.Receive commissions, interest, alimony or dividends which are needed for qualifying income.
	4. Home owners insurance declaration (premium/coverage) page, showing coverage for fire and hazard insurance and any other coverage for fire and hazard; insurance and any other coverage (flood, earthquake, etc.)
	5.Current mortgage statements and payment coupons for all mortgages.
	6.Name, address, account numbers, monthly payments and balances of all consumer loans, credit cards, and auto loans. List only those with outstanding balances.
	7.Name, address, account numbers and balances of all checking, savings, credit unions and brokerage accounts and provide 3 most recentstatements for each account.
	B. Borrowers who are Self-employed or have an interest in a partnership or corporation - provide the following additional documents.
	1. If you are Sole proprietor (and file IRS 1040 Schedule C) a. Latest 2 years federal tax returns with all schedules, signed and date. b. Year to date profit and loss statement, current to within 60 days, signed and dated
	2. If you own 25% or more of a partnership: a. Latest 2 years federal tax returns with all schedules, signed and date. b. Latest 2 years 1065 partnership tax returns, signed and dated. c. Latest 2 years partnership K-1's, signed and dated. d. Year to date Profit and Loss statement, and balance sheet current to within 60 days, signed and dated.
	3. If you own Less than 25% of a partnership: a. Latest 2 years personal federal tax returns with all schedules, signed and dated. b. Latest 2 years Partnership K-1's, signed and dated.
	4. If you own 25% or more of a corporation: a. Latest 2 years personal federal tax returns with all schedules, signed and dated. b. Latest 2 years 1120 corporate tax returns with all schedules, signed and dated. c. Year to Date profit and loss statement current to within 60 days, signed and dated.
	C. Supply copies of the following documents, if applicable.
	1. Sales agreement if this is a purchase transaction.
	2. Copy of rental agreement if rental property is not reflected on last two years tax returns.
	3. Divorce/Separation documents if a. You are paying alimony, child support or have an obligation to the other party. b. You are receiving alimony or child support and want the income used for qualifying. c. 12 canceled checks (front and back) showing receipt of alimony/child support.
	4. Copy of 1st mortgage note if you are applying for a 2nd mortgage or Equity line of credit.

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Check A. Please review the following checklist and provide documentation for all applicable items for each borrower.

1. Paycheck stubs covering the last 30 day period.

2. Last two years' W-2's

3. Last two years' 1040 Tax Returns with all supporting schedules, if you:
   a.Have rental property.
   b.Receive commissions, interest, alimony or dividends which are needed for      qualifying income.

4. Home owners insurance declaration (premium/coverage) page, showing coverage     for fire and hazard insurance and any other coverage for fire and hazard; insurance and any other coverage (flood, earthquake, etc.)

5.Current mortgage statements and payment coupons for all mortgages.

6.Name, address, account numbers, monthly payments and balances of all    consumer loans, credit cards, and auto loans. List only those with outstanding    balances.

7.Name, address, account numbers and balances of all checking, savings, credit    unions and brokerage accounts and provide 3 most recentstatements for each    account.

B. Borrowers who are Self-employed or have an interest in a partnership or     corporation - provide the following additional documents.

1. If you are Sole proprietor (and file IRS 1040 Schedule C)
a. Latest 2 years federal tax returns with all schedules, signed and date.
b. Year to date profit and loss statement, current to within 60 days, signed and     dated

2. If you own 25% or more of a partnership:
a. Latest 2 years federal tax returns with all schedules, signed and date.
b. Latest 2 years 1065 partnership tax returns, signed and   dated.
c. Latest 2 years partnership K-1's, signed and    dated.
d. Year to date Profit and Loss statement, and balance sheet current to within 60     days, signed and dated.

3. If you own Less than 25% of a partnership:
a. Latest 2 years personal federal tax returns with all schedules, signed and dated.
b. Latest 2 years Partnership K-1's, signed and dated.

4. If you own 25% or more of a corporation:
a. Latest 2 years personal federal tax returns with all schedules, signed and dated.
b. Latest 2 years 1120 corporate tax returns with all schedules, signed and dated.
c. Year to Date profit and loss statement current to within 60 days, signed and     dated.

C. Supply copies of the following documents, if applicable.

1. Sales agreement if this is a purchase transaction.

2. Copy of rental agreement if rental property is not reflected on last two years tax     returns.

3. Divorce/Separation documents if
a. You are paying alimony, child support or have an obligation to the other party.
b. You are receiving alimony or child support and want the income used for     qualifying.
c. 12 canceled checks (front and back) showing receipt of alimony/child support.

4. Copy of 1st mortgage note if you are applying for a 2nd mortgage or Equity line     of credit.