Required Documents

 

Items to supply Advantage Mortgage for a quick approval  

 
Income Items
 
W2 - last 2 years
Paystubs – 2 most current
1040’s – 2 years if self-employed and/or earn more than 25% of your income from commissions or bonuses, own rental property, or are in a career where         you  are likely to take non-reimbursed business expenses.

Year-to-Date Profit and Loss Statement - self employed only
Corporate or Partnership tax returns (if applicable)
Pension Award letter – Retirees only
Social Security Award letters - for those on Social Security
 
Asset Items

Bank statements - 2 months on all accounts. All pages
Statements - 2 months on all stocks, mutual funds, bonds, etc.
401K statement – 1 month (or other retirement assets)
Explanations for any large deposits and source of those funds
Copy of HUD1 Settlement Statement on recent sales of homes
Copy of Estimated HUD1 Settlement Statement if a previous home is for sale, but not yet closed
Gift letter (if some of the funds come as a gift from a family member)
Credit Items

Landlord’s name, address, and phone number (if currently renting)
Explanations for any of the following items which may appear on your credit report:
Late payments
Credit inquiries in the last 90 days
Charge-offs
Collections
Judgments
Liens
Copy of bankruptcy papers if a bankruptcy shows up on your credit report or you have filed bankruptcy within the last seven years
 
Other

Copy of purchase agreement (if you have already made an offer)
Child support documentation (if you desire to show it as income)
Copy of Divorce Settlement (to show the amount)
Copies of 12 months canceled checks to document actual receipt of funds
Social Security Card
Driver’s license