Checklist

Documents Needed for Purchasing / Documents Needed for Refinancing

DOCUMENTS NEEDED FOR PURCHASING

Income for W-2 Borrowers (Salary or Hourly)

• Pay stub(s) for one full month with at least 30 days of Year to Date [YTD] earnings
• W-2s for the past two years

Income for W-2 Borrowers (Bonus and/or Commission)

• Pay stub(s) for one full month with at least 30 days of Year to Date [YTD] earnings
• W-2s for the past two years
• 1040s (tax returns) for the past two years

Income for Self-Employed Borrowers

• W-2s (if business pays a W2 salary) for the past two years
• 1040s (tax returns) for the past two years
• Business returns (unless schedule C 1099 income) for the past two years

Income for Retired Borrowers

Social Security:

•      Copy of last two bank statements showing direct deposit of Social Security income
•      Copy of Social Security awards letter or most recent 1099-R.
       (If non-retirement age, may need proof of continuance)

Pension:

•      Copy of last two bank statements showing direct deposit of pension
•      Copy of pension annual benefits statement or most recent 1099-R

Income for Rental Property(s)

• All copies of current leases
• 1040s (tax returns) for the past two years

Assets

• Bank statements from the past 2 months for all depository accounts
• Most recent statement for all 401K, IRA, and other investment accounts
• If statements are not available, provide all pages of printout covering the last 60 days,
  signed and stamped by a bank official
• Gift Funds - copy of cashier's check payable to yourself with the donor as the remitter,
  copy of the deposit slip into your account, signed gift letter. FCM will provide gift letter.

Subject Property Information

• Evidence of Home Owner's Insurance for subject property along with a 1-year paid receipt
  (required no less than one week prior to close)

Other

• Driver's license for borrower (and co-borrower, if applicable)

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