Real Estate Owned is considered any type of real estate that is held in your personal name. Examples: house, lot, timeshare, commercial building, etc..


If you own any real estate then additional documentation will be required. Below is the REO Documentation section from the master Mortgage Document Checklist.

For Current Home

  • If Home is Already Sold and Closed: If you have sold your home within the last 90 days then we will need a copy of the executed Closing Disclosure showing the signatures of all parties. If you sold your home over three months ago BUT the mortgage still appears on your credit then we’ll need a copy of that Closing Disclosure.
  • If Home Will be Sold and Closed Before New Loan Closes: if your home WILL be sold and closed before this closing but is not yet closed, please provide the title company’s information where that sale will take place – we will then call them and get a copy of the executed Closing Disclosure after closing and a Seller’s Net Sheet in the interim.
  • If Home Will Sell After This Closing: if your current home will NOT be sold and closed before this closing then please provide a brief letter of explanation (i.e. email) for your intentions with the property (ex: do you plan to keep it and rent it out, sell it after you move, let a family live there, etc.).
  • If Keeping Your Current Home: if you can to keep your current home and intend to Convert A Homestead To A Rental Property or keep it as a Vacation Home then please email us with this intent and know that additional asset documentation may be required.

For Other Real Estate Owned

If you own other real estate besides your current home then please send:

  • Mortgage Statements: If you have mortgages on the properties and if you escrow taxes and insurance please send a copy of a recent mortgage statement(s) for those properties so we don’t double count the taxes and insurance against you.
  • Copy of Deed: If the properties do not have a mortgage then provide a copy of the deed as evidence that the property is owned free and clear. (Or you can have the title company do a search but that may cost you roughly $150).
  • Insurance Info: Please provide the insurance declaration page(s) or Insurance Agent’s information for each property. We can call the Insurance Agent and get the declarations page.
  • Lease Agreements: If you recently acquired a rental property and if 6 months of rental history is NOT on the previous year’s tax return, please provide the executed lease agreement(s) for these properties so we can use the rental income for qualifying purposes.

Mark Pfeiffer

Branch Manager
Loan Officer, NMLS # 729612

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