Please provide whatever is relevant to you. For example, if you don’t receive pay stubs then we will obviously not require pay stubs. If you own 25% (or more) of a business you should check out the Self-Employed Income sections for guidelines on how the mortgage world calculates the Qualifying Income. Also, the master Mortgage Document Checklist has a full breakdown of what’s required for underwriting if you want to see what else is required.
Pay Stubs – Most Recent 30 DayPay stubs must be consecutive and cover a full 30 days. Seriously, if it’s 29 days then we’ll need another pay stub. #Nuts Pay stubs must show Year To Date (YTD) income and employer’s name. Please let us know if you have had a change in pay (i.e. raise, change in commission structure, etc.) within the last 12 months.
HR or Manager’s InfoPlease provide the name, phone number, and email address of your HR, Manager, etc. that we can call to get a Verification of Employment form completed. Note: we will also call this person again within 48 hours of closing to ensure you’re still employed at the time of closing.
2015 and 2014 W2Please provide ALL W2’s for these years. We know the figure is shown on the tax return BUT the W2 helps verify the employers. (Example: if someone has multiple employers in a year the W2s verify the income breakdown).
2015 and 2014 Tax Returns – all pages and all scheduleWe do need all pages and all schedules of your tax returns. Please let us know if you would like for us to reach out directly to your CPA to get copies of these returns. NOTE: send 2013 W2s and Tax Returns if you haven’t filed 2015 taxes (and the 2015 tax extension if it’s after April 15th.
Employment Contract (if you’re a contract or temp employee)Please send your employment contract if you are a contract to temporary employee. If you do not have a contract then please let us know immediately to ensure we update your file as your job status may change your approval.
If Self-EmployedYou are “self employed” if you own 25% (or more) of a company, partnership, or trust. Check out our Self Employed Income sections on how Qualifying Income is determined.
2015 and 2014 K1sPlease provide ALL K1’s for these years. The K1’s verify the percentage of ownership of the company.
2015 and 2014 Business Tax Returns – all pages and all companiesWe do need all pages and all schedules of your tax returns. Please let us know if you would like for us to reach out directly to your CPA to get copies of these returns. NOTE: send 2013 K1s and Business Tax Returns if you haven’t filed 2015 taxes (and the 2015 tax extension if it’s after April 15th).
P&L (Profit and Loss Statement)A YTD Profit and Loss Statement is required if closing on your loan April through December.
Loan Officer, NMLS # 729612