Mortgage Checklist

There are many regulations in today’s mortgage industry, so this checklist may seem long at first glance. However, once a lender has all of the necessary information to prequalify you for a loan, the rest of the process can move pretty quickly. After you have your documentation ready, lenders such as Academy Mortgage can often help you purchase your home in less than 30 days.

Income Information

Tax Returns and Payroll Stubs

  • Most recent 2 years W-2 statements from all employers
  • Most recent 2 years federal tax returns including all schedules
  • Most recent pay stub(s) to cover a 30 day period

Child Support or Alimony

  • If receiving child support or alimony, provide divorce decree or child support order as well as 3 months proof of receipt of funds. If not indicated on child support papers, provide birth certificates of children to prove their age. We must have 3 years continuance to use this income

Social Security or Retirement Income

  • If receiving social security or retirement, provide awards letter and last 2 months bank statements showing deposits to your account

Change in Employment

  • If you have changed employers during the current year, provide last pay stub from prior employer if available
  • If you have had any gap in employment in the last 24 months, please provide written explanation for the reason and time frame of the gap

Self Employed

  • If you are self-employed, provide business license to cover the most recent 2 years, K-l or corporate tax returns for most recent 2 years

Asset Documentation

  • Most recent 2 months bank statements (actual statement, not transaction history), all pages please
  • Most recent statement for any 401K, IRA, pension, stock, etc. Most of these are quarterly statements. Please provide all pages please

Real Estate Transactions

  • If you have recently sold a home or refinanced, please provide a copy of your final settlement statement or HUD-1 to verify sale proceeds or cash out
  • If you have recently refinanced or had a transfer of servicing for your payment, provide a copy of the new mortgage payment coupon, first payment
  • letter or servicing transfer letter
  • If you have a home in escrow, provide the listing agent and title company information

Investment Properties

  • Most recent 2 years tax returns including all schedules if the property(s) were owned and included on the tax return at the time of filing
  • Copy of lease/rental agreement(s) if the property was rented after the date of the last tax return
  • Provide tax and insurance bill(s) if the mortgage payment does not include an impound account or if the property is owned free and clear

Academy Mortgage

LO NMLS #213246 | State Lic #CA-DOC213246 | Corp Lic #4170013 | Corp NMLS #3113

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

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