Be one step ahead by having documents ready!
To prepare for the home loan process, you and your co-borrower (if any) will need to fill out and/or provide some documents that your Loan Originator will ask for. These documents will provide necessary or qualifying information for your loan. You can save time by having these documents ready in advance. Here is a list of what you will need. Keep in mind that you may be asked for more documents later in the process.
● Full legal name, Social Security number and birthdate for all borrowers on application
● Phone number, email address, and current and former residential mailing addresses over the last two years
● Driver's License or Government-issued photo ID for all borrowers on application
● Name, addresses, and phone numbers of all employers over the last two years
● Primary and secondary income amounts and sources
● Name, addresses, and phone numbers of all employers over the last two years
● Pay stubs covering the last 30 days
● Written explanation if employed less than two years or employment gap exists within the last 2 years
● Federal tax returns, personal and business, including all Schedules, K1's, etc., for the past 2 years
● Profit and loss statement - year-to-date
● Copy of Signed Purchase Agreement-All pages and all counteroffers
● Closing Agent contact information
● Copy of Deposit Receipt
● Contact info for Listing and Selling Agent
● Address of property being purchased, year built, estimated down-payment amount and purchase price
● Estimates of annual property taxes, homeowners insurance and any homeowner association dues
● Values of bank, retirement (401k, IRA), investment (Stocks, CDs), and other asset accounts
● Monthly debt obligations
● Last 2 months' statements for all accounts listed on the application (include all pages of the statement, including ones that are blank)
● Explanation and documentation for any large or unsual non-payroll deposits or withdrawals
● IRS Form 4506-T - Request for tax transcript, completed, signed and dated
● W-2s for the past two years
● Federal tax returns (1040s) for the past two years (all pages are needed)
● Mortgage Statement(s) for all existing mortgages for Primary Residence
● Homeowner's Insurance Declaration page
● Homeowners Association Statement (if applicable)
● Credit explanation letter for late payments, collections, judgments, or other derogatory items in credit history
● Bankruptcy/discharge papers for any bankruptcies in credit history
● Social Security Award Letters
● SSA-1099 for the past two years-all borrowers on application
● Pension Award Letters
● Signed rental agreement(s) - all properties
● Mortgage Statement(s) - all properties
● Homeowners Insurance - all properties
● Tax Bills - all properties
● Divorce Decree
● Separation Agreement
● Proof account paid
● DD-214-VA loans only
● Certificate of Eligibility- VA loans only
Laura H. & Christopher M.
We were initially denied by a lender and when our possibilities were limited, Mr. Krauss helped us achieve our dream of getting a model home. My husband is a Veteran and he informed us of discounts and grants that we were not aware of.
Nicholas M.
I was well informed every step of the way never left me guessing all ways their when I had a question all ways very professional and respectful I had a pleasant experience.
Bonnie M.
Consistent communication and being able to trust the process. Richard closed my purchase after it was denied by another lender due to my low credit.
Natalie D.H.
Richard's quick response to any issue or questions I may have had. And his expertise in getting it all handled quickly. I am Self Employed, he was able to close the loan before the due date.
Lorine C.J.
Richard has successfully completed several refi’s for us which is why we brought our latest refi need to him. Our communication was excellent and our current refi went smoothly.
Nadine W.
Richard was able to close my VA Purchase ahead of time with a low credit score of 520. His expertise overcame every hurdle within the process.
Bryan P.
Richard took the time to help a homeless disabled Veteran into a new home. No one would help except for him. He explained how to qualify and executed my purchase ahead of schedule with the builder!
Roberto R.
I was in an active Chapter 13 Bankruptcy, Richard was able to contact the court for approval and assist with my new purchase. He then provided me with the SAH Grant information for disabled Veterans and helped with my disabilities in the new home.
Greg S.
Richard is my old high school friend. We both served in the military, and he was able to explain how I can purchase with a lower credit score. My family has a beautiful home and we are able to start our next chapter!
David S.
Richard executed a Cash Out refi to purchase an investment property. The loan was approved withing 5 Days. Extremely quick turn around and awesome communication. He always answered my questions.
