If you are in the market for a Naples home, and will be applying for a mortgage, here is a list of items you would need to provide for pre-approval or loan application.
- Most recent paystubs covering a 30-day period
- Last two years W-2s or retirement income 1099s (as applicable)
- Last two years Federal Tax Returns – complete with all schedules and addendums
- Most recent two months statements – all pages – for checking, savings, investment/retirement accounts, etc.
- Verification of tax and insurance expenses on other real-estate owned (copy of mortgage statement if escrowed; otherwise a copy of the most recent annual tax bill and insurance invoice)
- Clear copy of driver’s license for all borrowers
These additional items are also required, if applicable to your situation:
- For self-employed borrowers owning >= 25% in company, copies of K-1s and last two years of business returns – complete with all schedules and attachments
- Fully recorded divorce decree and marital settlement agreement if paying or receiving alimony or child support or if down payment is coming from divorce settlement
- Awards letters for pension, Social Security, disability, etc.
- Other documentation may be required depending on guidelines
If you are in the market for a mortgage, I highly recommend working with Mary Adams of Element Funding. Mary can be reached at 239.298.5333. Tell her Alysia sent you!
It is always recommended that you, at the minimum, obtain a pre-approval letter before you even start shopping for a home so you know how much home you can afford.
