THE 10 DO’S AND DON’TS
1. Don’t apply for new credit of any kind
2. Do keep all existing credit card accounts open
3. Don’t max out or overcharge existing credit cards
4. Do keep your employment within the same company or field of work
5. Don’t consolidate debt to one or two
credit cards
6. Do pay off collections, judgements or tax
liens reported within the past year
7. Do be prepared to pay off collections
if required by underwriting or the loan program guidelines
8. Do provide any documentation for
satisfied judgements or paid tax liens
9. Do stay current on payments for all existing monthly obligations
10. Do call me before making any financial
decisions or changes to your normal
financial routine. I’m here to help you
through the process
- Bank Statements (all pages even if blank)
Last two months from all accounts.
- Retirement
Last two months of retirement/pension, 401K and social security 1099 statements.
- Pay Stubs and/or current Leave and Earnings Statement (LES)
Last 30 days.
- Tax Returns
Last two years of 1040 federal tax return, last two years of federal corporate and/or partnership tax returns (if self-employed), last two years of W-2 forms.
- Employer Information
Name address, phone number and dates of employment for all employers over the last 2 years.
- Valid I.D. copy
Driver’s license, social security card, passport.
- Earnest Money
Copy of earnest money check deposit.
- Award Letters (if applicable)
For retirement/pension income, social security, disability income. Copies of social security, pension and/or retirement award letters and corresponding 1099s (if you receive this type of income).
- Divorce (if applicable)
Decree and separation agreement.
- Mortgage Statements (if applicable)
Property tax bills and homeowners’ insurance statements for all real estate owned.
- Bankruptcy (if applicable)
Petition and Discharge.
Note: Additional documentation may be required for underwriting approval. All loan requirements are to be verified with lender.
- Bank Statements (all pages even if blank)
Last two months from all accounts.
- Retirement
Last two months of retirement/pension, 401K and social security 1099 statements and Thrift Savings Plan (TSP).
- Pay Stubs and/or current Leave and Earnings Statement (LES)
Last 30 days.
- Statement of service from your commanding officer if you are active duty
Must include eligibility for reenlistment. Copy of your DD214 if separated from the military.
- Tax Returns (if you have commission or rental income)
Last two years of 1040 federal tax return, last two years of federal corporate and/or partnership tax returns (if self-employed), last two years of W-2 forms.
- Employer Information
Name address, phone number and dates of employment for all employers over the last 2 years.
- Valid I.D. copy
Driver’s license, social security card, passport.
- Earnest Money
Copy of earnest money check deposit.
- Award Letters (if applicable)
For retirement/pension income, social security, disability income. Copies of social security, pension and/or retirement award letters and corresponding 1099s (if you receive this type of income).
- Divorce (if applicable)
Decree and separation agreement.
- Mortgage Statements (if applicable)
Property tax bills and homeowners’ insurance statements for all real estate owned.
- Bankruptcy (if applicable)
Petition and Discharge.
Note: Additional documentation may be required for underwriting approval. All loan requirements are to be verified with lender.