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Financial Documents - What You'll Need |
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| When applying for a mortgage loan, you'll need the following: |
- Pay Stubs - for one full month, showing year-to-date income
- W-2 Forms - last 2 years
- Bank Statements - last 2 months for accounts not with Metro Credit Union
- Asset Statements - most recent statements for 401K, IRA, Stocks, Mutual Funds, etc.
- Homeowners Insurance Information - Agent name and contact number or Declarations page
- Purchase Agreement - if applicable
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| If you are self-employed, you'll need: |
- Last two tax year's signed and dated tax returns, including all schedules, a year to date Profit and Loss statement that is less than 60 days old, and a current signed balance sheet.
- If you're part of a corporation or partnership, please provide last tax year's return for the corporation/partnership including a K-1, a year to date Profit and Loss statement that is less than 60 days old, and a current signed balance sheet.
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| Certain Mortgage Applicants may need to provide additional information: |
- If your down payment includes a cash gift from a friend or relative, you'll need a copy of the check or wire transfer showing the donor's name and account number, plus a copy of the deposit into your bank account (this applies to home purchases).
- If you receive social security, a pension, or an annuity, provide a copy of the award letter and a copy of a recent benefit check.
- If you own other real estate, provide a lease/rental agreement and copies of property tax and insurance information (if this applies).
- If you receive alimony or child support, provide a copy of the divorce decree and evidence of receipt of income for 12 months. (Examples: cancelled checks, deposit slips or bank statements).
- If you pay alimony or child support, provide a copy of your divorce decree.
- If you have had a bankruptcy within the last seven years, provide a copy of your bankruptcy discharge, a copy of the petition (including schedules A & B) and an explanation of the circumstances.
- If you are paying off any debts with this mortgage loan (refinances only), please provide the most recent statements or account information for those debts.
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