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6201 E Cave Creek Rd, Suite B

Cave Creek, AZ 85331
480-252-8300

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MORTGAGE LOAN DOCUMENTATION CHECKLIST

Loan Documentation Check List

 

Here is a list of documents that are required when you apply for a mortgage in Arizona. Every situation is unique and you may be required to provide additional documentation. If you are asked for additional information, the sooner you provide the requested information, the speeder the application process.

 

Employment/Income

  • Most recent paystubs – 1 month and year-to-date 
  • W-2’s – past 2 years
  • Employment for last 2 years – names and addresses
  • Letter of explanation for any gaps of employment in last 2 years
  • Work Visa or green card 
  • Federal tax returns – all pages and schedules for 2 years including extensions 
  • Rental income – lease agreement & mortgage statement 
  • VA and Active Duty – Statement of Service Letter and Off Base Housing Authority Letter 
  • Alimony or Child Support – Divorce decree/court order stating amount plus proof of receipt of funds for last year 
  • Retired – benefit award letter, last 2 years 1099’s and last 2 years tax returns 
  • Social Security – provide award letter 
  • Disability - provide award letter 
  • VA Benefits – provide award letter 

Self-Employed 

  • Business Tax Returns - last 2 years including attached schedules, statements and extensions 
  • Profit and Loss statement –up-to-date 
  • Corporate K-1’s – last 2 years 
  • S-Corporations – last 2 years 
  • Federal Partnership (1065) and or Corporate Income Tax Returns (1120) – all schedules, statements & addenda for last 2 years if ownership position is 25% or greater 

Assets 

  • Checking, savings & money market account statements - all pages of last 2 months 
  • Stocks – All pages of last 2 months oIRA and/or 401k or other retirement accounts – all pages of last 2 months 
  • Any other asset accounts – All pages of last 2 months 

Funds to Close and Down Payment 

If a Gift

  • Gift letter 
  • Bank statements showing funds in donor’s account from the donor 
  • Copy of check from donors account 
  • Copy of deposit slip showing gift closing money in your bank account 

If a sale of home 

  • Signed Sales contract on current residence 
  • Copy of Hud-1 sale of home 
  • Deposit slip showing funds deposited into your bank account 

Credit 

  • Driver’s License 
  • Social Security Card 
  • If VA – Certificate of Eligibility or DD214 
  • Letter of explanation for all recent credit inquiries 
  • Letter of explanation on any late payments, collections, charge offs or derogatory credit 
  • Divorce Decree 
  • Bankruptcy papers - all schedules & discharge & credit explanation letter for bankruptcy 

Property 

  • Copy of signed sales contract including all riders 
  • Verification of deposit you placed on home 
  • All Realtors – names, addresses & phone numbers 
  • Homeowners Insurance - Agent’s name, address, & phone number 
  • Builder Information - name, address & phone number 
  • Attorneys – all involved names, addresses & phone numbers 
  • Listing Sheet and legal description 
  • If a Condominium- declarations, by-laws and most recent budget 

Currently renting

  • Landlord information - name, phone number & address 
  • 12 months cancelled rent checks 

Live with a family member 

  • Letter stating you live rent-free 

Debt or Obligations 

  • List of current debts with names, addresses, account numbers, balances and monthly payments – last 3 months statements 
  • Mortgage holders and/or Landlords – names, addresses, account numbers, and monthly payments for last 2 years 
  • Alimony/Child Support Payments – marital settlement/court order stating terms of obligation

Download a pdf here to print

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