Have These Items Ready When You Apply For a Loan

The following is required for most standardized loans as part of alternate documentation processing. Items may differ according to whether your loan is a conforming (Fannie Mae or Freddie Mac), non-conforming (jumbo) loan, government loan, or a portfolio loan.

These are the things you need to supply to your lender to get a quick approval using alternate documentation:


˃ W2 forms for the last two years

˃ Pay stubs covering a 30 day period

˃ Federal tax returns (1040s) for the last two years, if:

- you are self-employed

- 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 (for self employed)

˃ Corporate or partnership tax returns (if applicable)

˃ Pension Award letter (for retired individuals)

˃ Social Security Award letters (for those on Social Security)


˃ Bank statements for previous two months (sometimes three) on all accounts. All pages.

˃ Statements for two months on all stocks, mutual funds, bonds, etc.

˃ Copy of most recent 401K statement (or other retirement assets)

˃ Explanations for any large deposits and source of those funds

˃ Copy of Closing Disclosure (CD) on recent sales of homes

˃ Copy of Estimated Closing Disclosure (CD), 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)

˃ Gifts can also require:

- Verification of donor’s ability to make the gift (bank statement)

- Copy of the check used to make the gift

- Copy of the deposit receipt showing the funds deposited into bank account or escrow


˃ Landlord’s name, address, and phone number (for verification of rental)

˃ Explanations for any of the following items that may appear on your credit report:

-Late payments

-Credit inquiries in the last 90 days





˃ Copy of bankruptcy papers if you have filed bankruptcy within the last seven years


˃ Copy of purchase agreement (if you have already made an offer)

˃ To document receipt of child support (if you desire to show it as income)

˃ Copy of Divorce Settlement, if applicable, (to show the amount)

˃ Copies of twelve months canceled checks to document actual receipt of fund


˃ Copy of Social Security Card (or other documentation of social security number)

˃ Copy of Driver’s license


˃ Copy of DD214


˃ Copy of Note on existing loan

˃ Copy of Closing Disclosure (CD), on existing loan

˃ Name, address, phone number, loan number of existing loan/lender