© 2015 - 2019 The Mork Group

Terms and Conditions/Privacy Policy

Design and Maintenance by SLAVE TO THE MACHINE

Loan Approval Process

 

In today’s mortgage market, we verify income, assets and credit history as part of the loan approval process. Below are the typical documents we collect:

 

Income for a W2 Wage Earner:

 

  • Pay Stubs which cover the most recent 30 days of pay

  • W-2’s for the previous 2 years

  • Employment Contract (if new job)

 

Income for a Self Employed individual:

 

  • 2 years signed and dated personal tax returns (complete)

  • 2 years 1065 or 1120 returns (if applicable)

  • Current Profit and loss statement

  • Business License

 

Do you own investment Properties?  If so, please also have ready:

 

  • 2 years signed and dated personal tax returns

  • Rental Agreements

  • Mortgage Payment information or proof of clear title

  • Insurance Declaration Pages outlining annual premium

 

Assets:

 

 

  • Most Recent Bank Statements for the previous 2 months

  • Most Recent Mutual Fund, Stock or other investment statements

  • Most Recent Retirement fund statements

    • for all Asset accounts we must have all the pages from your statements, even if the final pages are “intentionally left blank” or are check reconciliation worksheets

 

Miscellaneous:

 

  • Complete Divorce Decree/Bankruptcy Papers (if Applicable)

  • Home Insurance Company contact details

  • Identification: state issued ID, Passports or other official identification

  • A complete list of where you have lived for the past 2 years and landlord contact details if during the past 2 years you were a renter