What you need to get ready before applying for a mortgage loan – Rochester Home Equity, Inc.

In general, the documentation you will need includes, but is not limited to, the following (you will be sent a checklist of items needed for your specific situation at application):

Property Information (if you already have a contract on a house)

Purchase Agreement.

If you are selling your current home, copy of listing contract.

If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.

For the most current past two years:

	Names and addresses of each employer.
	Personal federal income tax returns and W-2's

Statements for each bank, mutual fund, and/or investment account for the last three months including ALL pages.

If you have made any large deposits to your accounts:

Explanation and source for deposit.

If large deposit was a gift:

	Signed gift letter (lender will supply) and donor bank statement evidencing gift amount available.
	Copy of gift check.
	Copy of deposit receipt.

If you own more than 25% or more of a business:

Corporate or partnership tax returns for most current 2 year period.

If self-employed:

	Tax returns for the last three years (with all schedules).

If you own rental property:

Tax returns for the last two years and current rental agreements.

If you are retired:

Pension Award Letter and 1099's for the most current two year period.

If you receive Social Security:

Social Security Award Letter and 1099's for the most current two year period.

If you are counting child support as income:

	Copy of divorce settlement.
	Copy of twelve consecutive months of cancelled child support checks.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans and revolving accounts.

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, disputed tradelines, collections, judgments and/or liens.
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
	If applicable, a copy of your divorce decree.

Miscellaneous

Photo ID and proof of Social Security number.

Residence addresses for the past two years.

If you are not a citizen, a copy of the front and back of your green card.