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Contact Nancy Comenitz Real Estate

If you have any questions or need more detailed information, please feel free to contact me via phone at 617.232.4186 or fill out the form to let us know how we can help with your real estate needs.

Office Location 77 Pond Avenue,
Brookline, MA
Phone: (617) 232-4186
Fax: (617) 232-7954

Documentation Needed for a Mortgage Application

Traditional loans require a variety of important documents to verify your employment, income and assets. Here are some of the documents you will need when applying for a traditional mortgage loan:

        small_blue_7 Your Social Security number
        small_blue_7 Pay stubs for the last two months
        small_blue_7 W-2 forms for the past two years
        small_blue_7 Bank statements for the past two or three months
        small_blue_7 One to two years of federal tax returns
        small_blue_7 A signed contract of sale (if you've already chosen your new home)
        small_blue_7 Information on current debt, including car loans, student loans and credit cards

Keep in mind that the amount of paperwork required will vary by lender. 

Employment income verification

You may need the following items to verify your income:

        small_blue_7 Names and addresses of all employers for the last two years.
        small_blue_7 If you work for a really big company, you may want to call human resources and ask what
           address should be provided for employment verifications.
        small_blue_7 W-2s for the last two years (and  federal income tax returns from the past two years)
        small_blue_7 Pay stub(s) for the last two months

Self-employment income verification

If you're self-employed, you may need to provide:

        small_blue_7 Year-to-date profit and loss statement and balance sheet
        small_blue_7 Signed tax returns for the last two reporting years (business and personal)

Other income verification

Supporting documentation for other income you wish to have considered in qualifying for a loan may include:

        small_blue_7 Social Security and disability payments
        small_blue_7 Pension income
        small_blue_7 Dividends
        small_blue_7 Child support  
        small_blue_7 Alimony  
        small_blue_7 Bonuses
        small_blue_7 Overtime
        small_blue_7 Rental property income

Asset verification

Your assets may need to be verified through:

        small_blue_7 A gift letter (if you are receiving a monetary gift from a relative)
        small_blue_7 Statements and records for the last three months that include account names, addresses,
           account numbers and balances for the following accounts:
           Checking
           Savings
           Credit unions
           Mutual funds
           IRA, 401(k) and other retirement plans
           Securities (stocks, bonds, life insurance)
        small_blue_7 Title of any car you own (if less than five years old)

Debt verification

The following information about your debt may be required:

        small_blue_7 The most recent statement or payment booklets for present creditors
        small_blue_7 Car loans
        small_blue_7 Outstanding student loans
        small_blue_7 Credit card accounts 
        small_blue_7 Documentation of any current mortgage or home equity loan 
        small_blue_7 Name and address of present landlord along with last 12 months' cancelled rent checks 
        small_blue_7 A complete copy of any divorce decree or separation agreement to document alimony or child
           support
        small_blue_7 A copy of documents related to a bankruptcy, if applicable
        small_blue_7 Explanation letter for any judgments with a copy of release/satisfaction
        small_blue_7 Explanation letters for other delinquent credits of record (late payments, liens, foreclosure)

Property verification

You'll need information about the property you're buying:

        small_blue_7 Fully executed copy of purchase agreement
        small_blue_7 Legal description of the property being purchased (may be obtained by real estate agent)
        small_blue_7 Copy of listing sheet or property information sheet (if multiple listings)
        small_blue_7 If you are in the process of selling a home, you will need to provide the fully executed contract
           of sale along with a copy of the HUD-1 closing statement on the home before closing on the new&
           home.
        small_blue_7 List of real estate owned

Additional documentation

You may also be asked for these additional items:

        small_blue_7 A list of your addresses of residences for the last two years
        small_blue_7 If you were a full-time student at any time in the past two years, a copy of your diploma or
           transcripts
        small_blue_7 Social Security number
        small_blue_7 Relocation agreement (if you were transferred into the area)
        small_blue_7 Check for the application fee (if required)
        small_blue_7 If you are a resident alien, evidence of permanent residency issued by INS (a.k.a. green card)
        small_blue_7 Names, addresses and phone numbers of all parties involved in this transaction, including
           attorneys and/or closing agent and real estate agents
        small_blue_7 Copy of recorded deed (refinance only)

Depending upon the product and program for which you are applying, additional information may be required. Delays in providing requested information could potentially delay your closing date.

 

 

 

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