Borrowers frequently ask what documents are required when you apply for a mortgage; below is a list of the most commonly required documentation. Different home loan programs require different documentation, but this list is a guideline for gathering information for your loan application.

It’s smooth sailing when you apply for a home loan with Flagship Financial Services. We’ll handle the paperwork and guide you through the mortgage application process

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Required on all mortgage loan applications

  • Completed and signed application (1003) and signed disclosures
  • Copy of US driver’s license
  • If not a US citizen: Copy of resident card, acceptable Visa for each borrower as applicable
  • Appraisal and credit report fees payable to Flagship Financial Services

 

Asset Verification

  • Bank and brokerage statements: all pages of the most recent two months – all accounts
  • 401k, annuity, retirement, etc.: all pages of the most recent two months (or quarterly) as applicable

 

If you own property (or sold recently)

  • Most recent mortgage statements, annual tax bill, annual insurance bill, and HOA statement for each property presently owned
  • Copy of contract or listing agreement for any properties currently for sale
  • Seller’s Closing Disclosure for any recently sold or refinanced properties

 

Income Verification

If employed:
  • Name, address, and phone number for each employer for the last 2 years for each borrower
  • Paystubs for the most recent 30 days, showing year-to-date earnings for each borrower
  • W-2’s or 1099’s: all W-2’s and 1099’s for the most recent 2 years
  • Tax Returns: most current 2-year’s Federal personal returns with all schedules – with signature page signed
If retired:
  • Social security, pension or retirement: copy of the most current awards letter
  • Copy of a current check or 2 bank statements indicating automatic deposit
If self-employed:
  • Tax Returns: most current 2-year’s Federal personal returns with all schedules – with signature page signed
  • Corporate tax returns with K-1’s are required on some, but not all loan programs
  • A Year-To-Date Profit & Loss and Balance Sheet is required on some, but not all loan programs

 

Miscellaneous

  • Name, address, and telephone number of your landlord for the past 2 years
  • If applying for a VA loan a copy of the Veteran’s DD Form 214 (Report of Separation) is required to request the Certificate of Eligibility
  • If you have had a Bankruptcy in the last 7 years the complete bankruptcy discharge with all schedules may be required
  • If you are recently divorced or receive or pay alimony and/or child support a copy of the Divorce Finalization and Property Settlement may be required
    • Copy of twelve months of checks to document receipt of child support and/or alimony may be required if you want to use this income to qualify

 

Purchase

  • Fully executed contract with all pages and addenda

 

Refinance

  • Present Mortgage and/or Home Equity account information if applicable
  • Copy of prior Title Policy, Survey, and Insurance Policies

 

Because each loan and borrower is different, additional documentation may be required to obtain loan approval.

Download the Application Checklist