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The Mortgage Place Inc

Loan Application Document Checklist – Our site is under construction due to NEW MANAGEMENT!

The Mortgage Place Loan Documentation Checklist

2018 Salaried Borrower Needlist

  1. 2016/2017 1040’s, Federal Tax returns. After April 15 If your 2017 return is not filed, I will need the extension to file. If 2017 is filed I only need 2016/2017.
  2. 2016/2017 W-2’s.
  3. 2016/2017 1099’s for any pension, annuity, or investment income received if applicable.
  4. 2 most recent paystubs.
  5. 2017 Social Security Awards letter if applicable.
  6. 2 most recent or last quarterly bank, investment, retirement, etc. account statements, all pages please. Statements are required by underwriting, no Screenprints please. Please send all pages, even if the last page(s) is marked blank. Please note that any large deposits besides regular income, will need to be documented. I will advise once I review your statements.
  7. Most recent mortgage statement for any Real Estate owned.
  8. Copy of most recent RE Tax bill and insurance declaration page that shows current yearly premium and coverage.
  9. If any Real Estate owned is free and clear, copies of most recent RE Tax bill and insurance declaration page will be needed.
  10. Copy of current State driver’s license.
  11. Date the subject property was purchased and purchase price for a refinance transaction for a refinance transaction.
  12. Number of dependents and their ages if applicable.
  13. Home, cell, and work phone numbers
  14. E-mail addresses for (both) borrower(s)
  15. Name, address, and phone number of current employer and HR contact who can verify your employment. If at current job for less than 2 years, previous employer information. We must provide a minimum 2 year work history for our underwriter.

NOTICE: Loan submission requires 100% of items on the document checklist.

2018 Self Employed Needlist

  1. 2015/2016 1040’s, Federal Tax returns. After April 15 If your 2017 return is not filed, I will need the extension to file. If 2017 is filed I only need 2016/2017.
  2. 2015/2016 Business returns which includes 1065 & 1120S with K-1’s, and/or 1120 returns. After March 15, if Business returns are not filed, copies of extensions are required.
  3. If 2017 Business returns are not filed, a yearend Profit and Loss and Balance Sheet must be provided. All pages must be signed and dated by the preparer. Up to date P & L’s and Balance Sheets may be required as the year progresses.
  4. 2015/2016/(2017 after April 15) 1099’s for any pension, annuity, or investment income received if applicable.
  5. 2 most recent paystubs.
  6. 2017 Social Security Awards letter if applicable.
  7. 2 most recent or last quarterly bank, investment, retirement, etc. account statements, all pages please. Statements are required by underwriting, no Screenprints please. Please send all pages, even if the last page(s) is marked blank. Please note that any large deposits besides regular income, will need to be documented. I will advise once I review your statements.
  8. Most recent mortgage statement for any Real Estate owned.
  9. Copy of most recent RE Tax bill and insurance declaration page that shows current yearly premium and coverage.
  10. If any Real Estate owned is free and clear, copies of most recent RE Tax bill and insurance declaration page will be needed.
  11. Copy of current State driver’s license.
  12. Date of birth for both borrowers.
  13. Date the subject property was purchased and purchase price for a refinance transaction for a refinance transaction.
  14. Number of dependents and their ages if applicable.
  15. Home, cell, and work phone numbers
  16. E-mail addresses for (both) borrower(s)
  17. Name, address, and phone number of current employer and HR contact who can verify your employment. If at current job for less than 2 years, previous employer information. We must provide a minimum 2 year work history for our underwriter.

NOTICE: Loan submission requires 100% of items on the document checklist.

 

FHA & VA loans require the same documentation along with some additional requirements.  Please consult your loan office for details.

 

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