Thank you for your recent loan pre-qualification with Countrywide. You have taken the first step for a successful purchase transaction. As you begin your search for homes, please start gathering the following basic documentation and forward it to me as soon as possible so that when you find a home, the process will run smooth and hassle-free.
_____ Complete address and dates of residency covering a 2-year history.
_____ If renting, name, address, and phone number of Landlord / Property manager.
_____ Company name, address and telephone number, and complete accurate dates of employment for all current and previous employers covering a 2-year history.
If Salaried:
_____ Past 2 years W-2’s (if unavailable contact your HR dept to request duplicate copy)
_____ If you receive bonus or commission income – we require 2 years complete tax returns with all schedules included.
_____ Most recent paystub(s) covering a 30 day history with Year To Date earnings (if unavailable contact your HR dept for duplicate). If YTD earnings not on your pay stub – we will require an executed letter from employer/HR on company letterhead that includes your YTD earnings, (signed and dated).
_____ Letters of explanation from you for any gaps in employment, change of industry, or lack of 2-year history due to attending school/college/university/trade school/etc. If attended school during two-year history – a copy of your school transcripts are required (if unavailable contact your school/college/university).
_____ Past 2-years complete business tax returns (if unavailable contact your CPA for duplicate)
_____ Past 2-years personal tax returns (if unavailable contact your CPA for duplicate)
_____ Year-to-date Profit & Loss statement – signed and dated
_____ Letters of explanation for any gaps in employment, change of industry, change of business name or lack of 2 year history due to attending school/college/university/trade school/etc. (if unavailable contact your school/college/university).
BANKING INFORMATION
_____ Two consecutive months of all bank account statements used to qualify for your mortgage. Please include ALL pages, even the “Intentionally Left Blank” page. Also please include complete bank account numbers if not included on statement.
______If bank statements unavailable provide an internet 60-day activity print out that includes your name and account number.
______If bank statements unavailable (due to pass book etc) ask your bank to provide a 60-day activity print-out that must include your name and account number printed on bank letterhead with bank representative name, title, signature and date also included.
_____ Letter of explanation for any large deposits, transfers, overdrafts, NSF’s. etc.
_____ Copy of cancelled check for Earnest Money deposit or copy of cashiers check and source of withdrawal.
MISCELLANEOUS INFORMATION
You will be required to provide copies of the following documents at the time of application:
_____ Driver License
_____ Permanent Resident Alien Card (Green Card) if applicable
_____ Copy of Work Visa (if Non-Permanent Resident) & copy of 1-94
You may be required to provide either at the time of application or during the loan process:
_____ College Diploma / Transcripts (for recent graduates without work history)
_____ Letter of explanation for credit inquiries – your Loan Officer will inform you if this is a requirement at application
_____ Letter of explanation for derogatory credit - your Loan Officer will inform you if this is a requirement at application
_____ Letter of explanation for address / residency discrepancies on credit report
_____ Divorce Decree (all pages) if using child support or alimony to qualify. To use for qualifying income it must continue for next 3-years. Birth certificates for children if ages are not included in divorce decree
_____ Bankruptcy discharge paperwork
The above are basic documents needed in order to process your loan. Please keep in mind that additional documentation may be requested by the underwriter at their discretion. It’s extremely important that you provide all information in a timely manner in order to ensure on-time closings. We look forward to being of service to you!