Documents Required for a Home Loan | Community 1st Mortgage

Here is a typical list of items we request for a purchase loan.

For salaried borrowers

  • Clear copy of your driver's license and Green Card (if applicable).
  • Last two pay stubs
  • Last two year’s W-2’s. If you have been at your current job more than two years, your most recent W2 is all we should need.
  • Copy of your last two month’s bank statements for all assets.  We need every page of the statement even if the page is left blank intentionally.  If you include an investment account and you only receive quarterly statements – one statement is fine.  Please be sure to include the statement that you are using for your down payment.
  • Last two year’s Federal Tax Returns.  All pages and schedules please.  We do not need your state returns. If you don't own investment properties or a side business, we may not need your tax returns.
  • Homeowner's insurance quote. If you are buying a condo and the HOA's master policy does not cover "walls-in" insurance or HO6 insurance AND betterments and improvements - you will need to get an HO6 homeowner's insurance quote.
  • If you own other properties, we’ll need the homeowner’s insurance declaration page for those properties, HOA statement (if it’s a townhouse or condo) and the mortgage statement for those properties.

 

For a borrower who is commission based (1099), contracted employee, schedule C

  • Clear copy of your driver's license and Green Card (if applicable).
  • Last two years 1099’s
  • Last two years Federal Tax Returns.  All pages and schedules please.  We do not need your state returns.
  • Copy of your last two month’s bank statements for all assets.  We need every page of the statement even if the page is left blank intentionally.  If you include an investment account and you only receive quarterly statements – one statement is fine.  Please be sure to include the statement that you are using for your down payment.
  • Homeowner's insurance quote. If you are buying a condo and the HOA's master policy does not cover "walls-in" insurance or HO6 insurance AND betterments and improvements - you will need to get an HO6 homeowner's insurance quote.
  • If you own other properties, we’ll need the homeowner’s insurance declaration page for those properties, HOA statement (if it’s a townhouse or condo) and the mortgage statement for those properties.

For a retired borrower:

  • Clear copy of your driver's license and Green Card (if applicable).
  • Copy of your social security award letter(s)
  • Copy of any pension award letter(s) (if applicable)
  • Last two year’s 1099’s
  • Last two year’s Federal Tax Returns.  All pages and schedules
  • Copy of your last two month’s bank statements for all assets.  We need every page of the statement even if the page is left blank intentionally.  If you include an investment account and you only receive quarterly statements – one statement is fine.  Please be sure to include the statement that you are using for your down payment.
  • Homeowner's insurance quote. If you are buying a condo and the HOA's master policy does not cover "walls-in" insurance or HO6 insurance AND betterments and improvements - you will need to get an HO6 homeowner's insurance quote.
  • If you own other properties, we’ll need the homeowner’s insurance declaration page for those properties, HOA statement (if it’s a townhouse or condo) and the mortgage statement for those properties.

For a business owner:

  • Clear copy of your driver's license and Green Card (if applicable).
  • Last two pay stubs (if applicable)
  • Last two years 1099’s or  W-2’s
  • Last two years personal Federal Tax Returns.  All pages, schedules.  Please include the K1’s
  • Last two years business Federal Tax Returns.  All pages and schedules.
  • Copy of your last two month’s bank statements for all assets.  We need every page of the statement even if the page is left blank intentionally.  If you include an investment account and you only receive quarterly statements – one statement is fine.  Please be sure to include the statement that you are using for your down payment.
  • Homeowner's insurance quote. If you are buying a condo and the HOA's master policy does not cover "walls-in" insurance or HO6 insurance AND betterments and improvements - you will need to get an HO6 homeowner's insurance quote.
  • If you own other properties, we’ll need the homeowner’s insurance declaration page for those properties, HOA statement (if it’s a townhouse or condo) and the mortgage statement for those properties.

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