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Dear Applicants,

 

I would like to take the opportunity to thank you for choosing H.O.M.E. We are looking forward to helping you with your financial needs. 

 

The following documents are needed in order to process your loan, we would prefer all documents be scanned and emailed directly to the loan officer. Please choose either the purchase documents or refinance documents that apply to you.

 

  

 ** Please do not open or cancel any credit card or any other credit accounts until the transaction is complete. **

  

Purchase Document

Checklist and Instructions

 

1)     Please provide a copy of the fully executed contract of sale for subject property.

2)     Please provide a copy of the cancelled down payment check or a copy of the escrow letter from your attorney, along with the  bank statement evidencing the withdrawal

3)     Please provide a letter from accountant stating the business name, address, and number of years you have been self-employed.

4)     Please provide most recent year to date pay stubs covering one complete month.

5)    Please provide 2010 & 2011 W-2 AND please provide your 2010 & 2011 Tax returns (all pages and schedules please). If your 2011 Tax returns have not yet been filed, please provide them as soon as they are and provide 2009 & 2010 Returns instead. **If self- employed, please provide 2 years of the most recent filed Tax returns. ** (Your accountant should have electronic copies of all)

       a) self-employed borrowers: 2011 profit and loss statement. 

6)     Please provide  2 months of recent bank statements and investment accounts (all pages, even if blank) for all    

       a.  accounts listed on application covering a two month period.       

       b.  documentation, where the monies came from, for any large deposits(over $2500)

       c.  **Please note: computer generated printouts must contain your name, account number & 30 days of transactions, an actual statement will be required**  

7)    Please provide a copy of your current mortgage statement, lease agreement, tax bill and insurance certificate FOR ALL PROPERTIES YOU CURRENTLY OWN.


8)   Please provide a copy of the Fully Executed Contract of Sale and/or listing for your current residence.

 

9)  Please provide a copy of the HUD-1 Settlement Statement from sale of home once available.

10)  Please provide documentation for all collections, tax    liens and/or charge offs evidencing they have been paid in full. *Please note: Collections, Liens and Charge offs must be paid in full prior to or at closing*

11)  Please provide a copy of the “mortgage note” for your current Home equity Line of Credit (you might need to request this from current lender)

12)  Please provide copy of your divorce decree (if applicable)

13) Please provide  two forms of identification for both borrowers (one must have be a picture id)

14) For FHA Loans Only:

       a.  Please provide a copy of the FHA Amendatory Clause signed by all parties involved prior to the execution date of the purchase agreement.

       b.    Please provide a photocopy of your Social Security Card for both borrowers.

15) For Co-ops Only: Please request information from management company ASAP on their processes for Purchases.

Most common reason for a delayed closing- if you have stock or any other monies that you plan to liquidate prior to closing, we will need to see all the transfers of funds in a statement to verify the liquid asset. Please do any transfer of funds well in advance of closing to avoid delays.   

  

  

Refinance Document

Checklist and Instructions

         

1)     Please provide a letter from accountant stating the business name, address, and number of years you have been self-employed.

2)     Please provide most recent year to date pay stubs covering one complete month.

3)        Please provide 2010 & 2011 W-2s AND please provide your 2010 & 2011 Tax returns (all pages and schedules please). If your 2011 Tax returns have not yet been filed, please provide them as soon as they are and provide 2009 & 2010 Returns instead. **If self- employed, please provide 2 years of the most recent filed Tax returns. ** (Your accountant should have electronic copies of all)

       a) self-employed borrowers: 2011 profit and loss statement. 

4)     Please provide most recent bank statements (all pages, even if blank) for all

      a.  accounts listed on application covering a two month period. 

      b.  documentation, where the monies came from, for any large deposits, over $2500

      c.  **Please note: computer generated printouts must contain your name, account number & 30 days of transactions, an actual statement will be required**  

5)    Please provide a copy of your current mortgage statement, lease agreement, tax bill and insurance certificate FOR ALL PROPERTIES YOU CURRENTLY OWN.


6)  Please provide documentation for all collections, tax    liens and/or charge offs evidencing they have been paid in full. *Please note: Collections, Liens and Charge offs must be paid in full prior to or at closing*

7)  Please provide a copy of the “mortgage note” for your current Home equity Line of Credit (you might need to request this from current lender)

8)   Please provide copy of your divorce decree (if applicable)

9)   Please provide two forms of identification for both borrowers (one must be a picture id)

10)  Please provide a letter (SIGNED AND DATED) explaining the reason for the cash-out from the new loan if you are doing a "cash-out refinance mortgage".

11) For Co-ops Only: Please request information from management company ASAP on their processes for Refinances.