Requirements for Home Purchase
Income Documentation for Purchasing and Refinancing
Documenting Assets for Purchases and Refinances
Residency Status
Homeowner’s Insurance/
Hazard Insurance
For All Properties Owned at the Time of Closing
If Rental Property is Owned

Sales agreement/Contract

Fully signed contract is required for underwriting however, initial unsigned one is acceptable to get the loan started and rate locked in. As long as there is an agreement and a verbal commitment from both buyer and seller.

Cancelled Hand money/Deposit Check

A copy of the cancelled check that was used for “hand money /deposit” given to the realtor for the subject property, must include the back of the check which will include bank numbers that show the check was routed.

Transaction History Showing Hand Money/Deposit check cleared account

This from (Borrowers) bank account, showing the check (Hand Money/Deposit) has cleared. Must be from the date of the last bank statement to present day. If you generate your transaction history from the bank’s website, make sure your printout includes the URL so the Underwriter can see the website (source) information.

Invoices for transaction related items

The closing department requires all invoices from related services like home inspection, pest inspection, radon inspection, survey’s, home warranties, etc. We use these invoices to prepare a closing disclosure (document used to display the true and total cost of purchasing a home) at the end of the transaction.