Preparing Docs For Your Home Loan Or Refinance


Buyers can put themselves at an advantage by providing the right documents for their loan as early as possible. From the loan application to the loan documents themselves, by ensuring these documents are complete and accurate, lenders can be faster and more confident in making their decision. Knowing ahead of time what you need to prepare and starting to gather these documents as you go along will make your life a whole lot easier. Timing is crucial when it comes to loans and the more time you can cut down by being prepared and ready to go, the better.

Here’s what you need if you’re a W- 2 employee:

  • 2 years of Income Tax Returns
  • 2 years of W-2’s (If applicable)
  • 2 years of 1099’s (If receiving Pension, Annuity, or Social Security Income)
  • Paystubs covering 30 days (weekly, biweekly, or monthly)
  • 2 months of Personal Bank Statements (All pages)

And here’s what you need if you’re self-employed:

  • 2 years of K1 statements from Business Tax Returns
  • 2 years of Corporate/LLC/Partnership Returns
  • Signed Profit and Loss Statement
  • Signed Balance Sheet
  • 2 of months Business Bank Statements
  • A CPA letter explaining the use of business funds

You may also need these if they apply to your situation:

  • Statement for any Retirement/Brokerage
  • All mortgage/HELOC statements (if applicable)
  • Homeowner insurance policies
  • HOA monthly billing statements (if applicable)
  • Signed purchase contract (if applicable)

Other important tips

  • Avoid making any large unusual deposits (over 50% of gross monthly income) for 60 days before you apply for the loan
  • Use the same bank account for the earnest deposit and the down payment

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Tawnee Dinh - Loan Officer


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  1 comment for “Preparing Docs For Your Home Loan Or Refinance

  1. July 5, 2017 at 9:54 am

    This is really useful, thanks.

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