Documents Required For A Loan

Documents Required For A Loan

California 55 Plus
California 55 Plus
Published on October 25, 2022

Documents Required For A Loan

Documents Required For A Loan

If this is your first time buying a home, the whole process of getting all the documents ready can seem like a daunting task. This especially true if you are buying with the help of a mortgage or refinancing your current mortgage. The lender in [Dynamic1] will require you to fill out an application and sign disclosures to begin the loan process. Other information such as credit history, employment details, bank statements are also required by the lenders. This is where our company can help you out and make the process as easy as possible.


After you have submitted your application for a home loan and are pre-qualified, a mortgage underwriter will review the details of your application to finalize a loan. The underwriter in [Dynamic3] makes sure that you can afford to pay the loan back as per the decided criteria. This approach can differ from lender to lender and it also depends on the type of loan under consideration. However, all lenders thoroughly check an applicant’s financial position and require a list of documents which includes:

Proof of Income

Copies of paychecks along with W-2 statements of previous two years as well as tax returns for previous two years.

Proof of assets
  • Gift letters confirming money received in terms of gifts or from non-profit organizations.
  • Documents showing record of stocks, bonds or insurance equity owned
  • Proof of debts
  • Current home mortgage
  • Outstanding car loans
  • Current lines of credit
  • Credit card debt or student loan details
Personal History
  • Rent or utility bills for the previous 12 months to prove residence.
  • Social security number
  • Check or credit, for electronic appraisal
  • Degree or transcript from your educational institution if you were a student in the past two years
  • List of home addresses for the past two years


A copy of the final purchase agreement contract is required. For new construction loans, details on plans and specification may also be required. You will need a legal description of the property you are buying in [Dynamic3] that your real estate agent should be able to provide. Sellers are required to present a copy of the HUD-1 closing statement of the home as well as the final contract of sale.

Additional Documents That Are Required If Applicable
  • Copy of 1099 tax form
  • Divorce decree, Divorce papers and child support documentation
  • Documents supporting any income received from Social Security or retirement trust
  • Copy of petition for bankruptcy and discharge, and supporting schedules
  • VA discharge papers(DD214) for military veterans
  • Documentation proving 2+ years of tax returns proving 25 percent ownership or more of company, in case of self-employed individuals

It is essential to get all the necessary paperwork and documents in order the first time to avoid any delays in getting a loan approved. Use an experienced real estate agent or agency to help you through all the documentation, making it a smooth process.

California 55 Plus
California 55 Plus Murrieta
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