Required Mortgage Documents

Documentation You Need for the Home Loan Application Process

As part of our commitment to help the first-time homebuyer with , we have compiled a checklist of the documents you will need throughout the home loan application process with Bank of Internet USA. We will ask for each of the mortgage documents that apply to your particular case at some point along the way, so keep you will want to keep up-to-date copies handy to ensure a quick, smooth loan application process.

For your convenience, here is a . If you have any questions or need any guidance, please don't hesitate to .

Proof of Income

Wage Earners

  • Pay stubs for earnings covering the most recent 30-day period with year-to-date income listed
  • W2 forms for the past two years
  • Federal income tax returns with all schedules attached from the past two years, signed and filed

Self-Employed Borrowers

  • Federal income tax returns with all schedules attached from the past two years, signed and filed
  • Upon request, year-to-date profit and loss statement

Social Security

  • Copy of the Social Security Administration’s award letter
  • Signed federal income tax returns, or copies of the most recent bank statements

Retirement, Government Annuity, and Pension Incomes

  • Letter from the organization providing this income (e.g., award letter)
  • Signed federal income tax returns, or 1099 forms, or copies of the most recent bank statements

Alimony and Child Support

  • Divorce decree or other legal document showing alimony or child support payments
  • Deposit slips, bank statements, court records, or income tax returns documenting alimony or child support payments

Rental History

  • Proof of most recent 12-month rental history, such as:
    • Bank statements
    • Cancelled checks
    • Money orders
    • Payment records
    • A letter from a property management company
    • A standard rent verification form

Source of Funds

  • Proof of funds sufficient to cover down payment, closing costs, and PITI (sum of monthly principal, interest, taxes, and insurance) reserves, such as documents showing funds in:
    • A or account, stocks, bonds, 401k, etc., verified with bank statements or investment portfolio statements covering the most recent two-month period
    • If using business assets, a schedule C or 1120 S Income showing assets are available (borrower must own 100 percent of the business)
    • If the source is a gift, a gift letter
    • If selling a house, proof of proceeds from the sale, verified through a copy of the fully executed settlement statement

Credit

  • Bankruptcy or discharge paperwork for any bankruptcies on your credit report