Your loan approval will be expedited if you provide the following items that apply to your situation:
Copy of your driver license(s) or U.S. Passport(s) for the Patriot Act.
E-mail address. Please check on a regular basis until your loan is closed.
Credit card information. Type of card, name on card, card number, and security code. This is used to order your appraisal.
Loan application completed thoroughly in every section. Signed, initialed, and dated where applicable.
Most recent pay stub(s) for a 1 month period.
W2s for the previous 2 years.
2 years Federal Tax Returns with ALL schedules if you are self-employed, commissioned, and/or have personal business expenses.
K1s for the last 2 years if applicable.
Last 2 months financial statements ALL pages, even if blank, for any assets that you are disclosing. These could include checking, savings, money markets, certificate of deposits, brokerage accounts, and/or retirement accounts.
If you have large deposits on your financial statements, you must "paper trail" the funds. This could include a copy of the check that you deposited.
Gift letter if applicable. Eagle River Mortgage will provide the gift letter. Please do not have the donor provide the earnest money check. The easiest process is to have the donor complete a gift letter, a letter from there financial institution stating that they had the ability to give you a gift in "x" amount, and a copy of the check or wire.
Current lease agreements for any investment properties.
Final Divorce Decree or Separation Agreement that has been signed by the courts. This must address all settlements of personal and business assets and liabilities including a parenting plan if applicable.
Copies of the Purchase Contract on the home that you are buying and if applicable a copy of the Sales Contract on the home that you are selling.
If you are financing a Condominium or Townhome, the name and telephone number for the HOA manager.
Name and telephone number for your homeowner's insurance agent.
If a townhome or condominium please include your agent's name, telephone, and existing policy number. Most investors are now requiring that the HO6 policy to be included in your monthly escrow payment.
These are the items that we request initially. We typically use an automated underwriting system that may or may not require all listed items. After we submit your initial information the underwriter may request additional information.
