Have These Items Ready When You
Apply For a Loan
BMC Mortgage prides itself on the vast amount and types of loans we can offer
our borrowers. From perfect credit to not-so-perfect credit, we have programs
to assist borrowers in getting the right programs that work best for their
needs. With so many varying types of loans, we also have many varying types of
documentation. Once you have applied with us, the amount of documentation you
will need to provide may be quite different than what you see here, but it is
still a good rule of thumb to have it readily available during the pre-approval
stage of your loan process.
Income Documentation
-
W-2 statements for the previous two years
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Most recent pay stubs covering a one month period
-
Pension Award Letter
-
Social Security Award Letter
If self-employed, you
may be required to provide:
-
Federal tax returns and all schedules for the previous two years
-
Corporate or Partnership tax returns
-
Year-to-date Profit and Loss Statements
Asset Documentation
-
Bank statements for the previous two months, all pages
-
Most recent quarterly statement for all stocks, bonds, mutual funds, 401k
and/or IRA plans
-
Copy of HUD-1 Settlement Statement on property recently sold
-
Gift Letters along with an escrow letter of deposit or copy of the cancelled
check
-
Explanation of large deposits and the source of those funds
Credit Items
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Landlord or property management company's name, address, and phone number
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Explanation for the following items which may appear on you credit report
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Late payments
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Charge-offs
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Collections
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Judgments
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Liens
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Large number of credit inquiries in the last 90 days
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Copy of bankruptcy discharge letter if you filed within the last seven years
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Copy of Divorce Decree if divorced. Copy of Divorce Settlement to document any
child support and the monthly amount received if you choose to use it as
qualifying income
For Refinances
-
Copy of current mortgage statement
-
Prior Title Policy
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Homeowners Insurance Policy
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Warranty Deed
-
Survey
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