DOCUMENTS AND INFORMATION NEEDED FOR KENTUCKY MORTGAGE APPLICATION APPROVAL
1.Picture ID for all borrowers. Driver’s license and sometimes a second ID is required if your name has changed recently or there is a discrepancy on your credit report. A social security card may also be required.
2. recent pay stub for all borrowers covering last 30 days (all jobs). If you get paid twice a month, need 2 pay stubs to cover the 30 days.
3. Most recent two years of W2s, 1099s and 1098s for all borrowers (all jobs and income).
4. Self Employed? Need all pages of individual Federal Tax Returns for most recent two years including all forms and schedules. Include Corporate Tax Returns if applicable. Sign and date the return before sending.
5.Other income documentation. If you receive other income that you are using to qualify for your loan, we will need documentation of the income itself and that it is likely to continue for three years.
6. 2 months most recent checking and savings statements (all pages). If the first page says “page 1 of 5”, we need all five pages even if blank. Prints provided by a bank teller are acceptable if they have the account number, the account holder’s names, all withdraws/deposits, ending balance, name of the depository institution and the teller “certify” the print-out by signing and dating it. *
7. Most recent retirement account statement: IRAs, 401ks, 403bs, deferred compensation (all pages). If the first page says “page 1 of 5”, we need all five pages even if blank. *
8. Most recent statement for other asset accounts: stocks, money markets, mutual funds (all pages).
If the first page says “page 1 of 5”, we need all five pages even if blank.
*ON-LINE DEPOSITORY ACCOUNTS OR PORTFOLIO STATEMENTS*
On-line depository or portfolio statements obtained directly from the Internet may be acceptable if all of the following are evident: 1. Borrower clearly defined as account holder 2. URL address identifying the source of information 3. Name of the depository or investment institution 4. Account number 5. Time period covered by statement 6. All deposits and withdrawal transactions for depository account or all purchase and sale transactions for a financial portfolio account 7. The ending balance
Applying for a Kentucky Housing Loan or Down Payment Assistance? If yes, need last 3 years of Federal tax returns – all pages.
Bankruptcy in the last 7 years? If bankruptcy in the last 4 years we will need your discharge letter and all of your bankruptcy papers including list of debts discharged. If over 4 years we just need copy of the discharge letter.
The following information will be required for the application:
Complete home address for the most recent two years.
List of employers for the most recent two years, including address, phone number and job title.
List of all debts, including child support, student loans
If obtaining a gift, the full name, address and telephone number of the donor(s).
Documents Needed for a Mortgage Loan Approval in Kentucky-
VA Mortgage Loan Checklist
The following is a list of documents that may be required to process your VA mortgage loan:
•One full month’s worth of pay stubs
•Last 2 years W-2’s
•If self employed: Last 2 years tax returns with all schedules (if you are using commission, dividend or rental income to qualify then you will also need to provide your tax returns)
•Address and phone number of all employers for the last two years.
•Address and phone number for all landlords for the last two years.
•Copy of your DD214
•Your Original VA Certificate of Eligibility (we can help you get this if needed)
•Copies of social security, pension, and/or retirement award letters (if applicable)
•Last two months bank statements for all accounts
•Documentation to support your funds to close
•Explanation for any derogatory credit (if applicable)
•Bankruptcy and discharge paperwork (if applicable)
•Divorce decree and settlement paperwork (if applicable)
Call us today if you have questions about what you need for a home loan: 502-905-3708 or email us mailto:email@example.com– %20-Stop Stop by our office at 107 South Hurstbourne Parkway Louisville Ky 40222