Mortgage Pre-Approval/Refinance Document Checklist

 

1. Download and fill out Borrower Information
2. Download and fill out the Application Form
    • working history and living history can be ignored as you've already provided in borrower information.
    • Provide ALL the information highlighted
    • You can fill out the form on computer and save the PDF file. You don’t have to sign it.
3. I will confirm with you before pulling your credit report.
4. Recent 30 days pay stubs
    • Need three pay stubs if you get paid bi-weekly or two stubs if paid semi-monthly
    • The employer name must be shown on the pay stubs
5. last two years tax returns (Federal only but with all schedules)
    • Try to provide all pages including Schedule C, Schedule E, K-1, etc
    • Proof of extension if you filed tax extension
6. Last two years W2s
    • If tax was filed jointly, need all persons' W2s
7. Recent two month bank statementswhat is a valid bank statement
    • If you use the following banks, be careful. Because you may not get cashier check or wire the money with these bank accounts.
      • Discover/Captital One/TCF/AMEX etc
    • Some banks only provide quarterly statement if no account activities. So make sure it's a clean quarterly statement.
    • Please do not make large deposit or withdraw large amount of money from the bank accounts during the loan process. 
8. Driver's license for all borrows, and
    • For US citizen, please provide driver license copy.
    • For green card holder, please provide green card copies (front and back)
    • For H1B holder, please provide:
      • Passport - only need first page with photo
      • Entry Visa on passport, it's OK if it's expired.
      • I-797 - two pages

For refinance, please also provide items from 9 to 12

9. Homeowner fire insurance statement (a.k.a Hazard insurance)
    • Make sure it's not expired.
    • Provide the insurance agent contact  if it's not on the statement.
10. Most recent mortgage statement
    • If the subject property is an investment property, I'll need your primary  home mortgage statement/insurance statement/HOA statement.
11. If you have HOA, provide
    • The master insurance. 
    • The HOA monthly statement
    • Let me know if the total condo units < 20 in your community.

12. Property tax statement

 

Additionally, please also provide the following if they apply
  • If you have HELOC/Second Mortgage, provide:
    • Heloc note
    • subordination agreement
  • If you have rental property, provide
    • rental agreements (if rental income will be used)
    • mortgage statement
    • property tax slip
    • insurance
    • HOA statement (if the property has HOA)
  • If you are a new graduate student, provide:
    • degree diploma
    • start/end date of your degree
    • address of your college
If you have or will have following changes, please let me know as early as possible.
  • job change
  • closed bank account recently
  • will go on travel or your spouse will go on travel
  • use gift money
  • visa status change
  • anything you can think of that may affect the loan application 

 

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