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Here is a list of the information 1st Mortgages will use to consider your loan application.

Social Security Number, for borrower and co-borrower if any

Employment History
For the last two years, employment dates, addresses, salary and possibly W-2s.
Many applicatants may be qualified with only two of your current pay stubs.

Check and Savings Accounts and Certificates of Deposit
Location of bank accounts, account numbers and balances;
On purchase transactions, we will need to verify your source of down payment typically using your most recent bank statement.

Stocks, Bonds, and Investment Accounts
Broker's name and address, description of stocks, bonds, etc; Often used to document "Reserves", we will often as for your most recent account statement.  Reserves are monies not used for closing but supports stability and savings.

Sometimes, additional information is helpful:

Retirement Plan
Approximate vested interest value
Copy of latest statement

Automobiles
Make and model of automobiles, their resale value

Other Assets
Market value of personal and household property

Liabilities and Other Non-Mortgage Debt
Creditors names, addresses, account numbers
Monthly payments and balances

If you're self-employed
Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.

If you have income from:
Commission
Overtime
Bonus
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns

If employed in family business
Personal federal income tax returns and all schedules for the past two years

If divorced or separated
Complete executed divorce decree and settlement agreement
Payment history of alimony/child support over the past 12 months, if it is a financial obligation.
If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.

Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances

If you've sold your home but not closed:
A copy of the sales contract

If you've sold your home, closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement

Name, address and phone number of landlords for the past 24 months

Purchase sales contract or offer to purchase and all addenda plus your agent's name and phone number.  We will work directly with all parties to ensure your the best possible on time closing.

If a source of your down payment is a gift:
Name, address and relationship of donor.
Gift funds will be verified in both the donor and recipient's accounts.
Note: Not all loan programs allow gifts to be part of your down payment.

For FHA Financing
Evidence of Social Security Number and photo identification

For VA Financing
DD214 and Certificate of Eligibility

For Construction/Perm Loan
Construction Budget with cost breakdown, builder plan and specifications. If you need help on how to begin a construction project, contact 1st Mortgages today.