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Mortgage Checklist

Having your paperwork in order before starting the mortgage process is essential to a having a smooth transaction.

California Mortgage Advisors, Inc. has a 20+ year track record of helping borrowers secure financing on all types of properties. One thing that is consistent is the documentation required to obtain loan approval and secure financing.

We understand that the paperwork can seem overwhelming and confusing, especially for first time buyers. To help you better understand what’s required for financing, we created a mortgage checklist. Our Mortgage Advisors are seasoned professionals and can assist you with the required paperwork should you have any questions. Our Mortgage Advisors are available at (800) 927-6560 to answer your questions or click here to contact us online.

The Paperwork required for your loan will depend on your personal financial and employment situation. If you have these documents handy, you can complete the loan application in as little as 20 minutes.

Mortgage Checklist

Simple documentation requirements: Borrower who is employed by a company.

  • Loan Application (Click here)
  • Last 2 years filed 1040’s
    – If on extension for previous year also include copy of the IRS Form 4868
  • Last 2 Years W-2’s and W-2’s for prior 1040’s provided
  • Pay stubs cover last 30 days
  • 2 month’s bank, brokerage and 401K statements (all pages of statements)
  • Photo of drivers license(s) (best to take picture with your smartphone)
  • Trust Agreement if title will be held in a Trust
    If a Refinance:
  • Property Tax Bill for Subject Property
  • Insurance Declarations for Subject Property
  • Current Mortgage Statement(s) for Subject Property

If an investor in other businesses, you will need to supply the following:

  • K-1’s associated with the Schedule E of the 1040’s for each year provided

If Self Employed and own 25% or more of a business, you will need to supply the following information for each business owned:

  • Last 2 years filed 1120’s or 1065’s
  • K-1’s associate with Schedule E of your 1040’s for each year provided
  • Unaudited Profit & Loss for prior year if business returns not filed
  • Year-to-date Unaudited Profit & Loss for current year

If you own rental properties, you will need to supply the following:

  • Lease Agreements for each property
  • Property Tax Bills for each property
  • Insurance Declarations for each property
  • Current Mortgage Statement(s) for each property

If you are retired, you may need to supply the following documents if applicable:

  • Social Security Award Letter for Current Year
  • Pension Award Letter
  • Proof of Social Security and/or Pension Income

If you are buying a home and receiving gift funds from a relative:

  • Signed Gift Letter from donor

The purpose of a checklist such as this is to provide you with a good set of likely documents you should have in order to apply for a loan. California Mortgage Advisors wants your mortgage process to go smoothly and is here to help you along the way. The documents that your Mortgage Advisor will require may vary from this list depending on the specifics of your personal situation and your financial state. The list above is a guide to what is typically required with the loan application. Once your loan is setup and processed, your CMA processor will prepare a needs list of items required to submit to underwriting. Once your loan is approved, your CMA underwriter may condition for missing paperwork listed above or clarification on items provided. Once you clear the conditions, your loan is approved subject to the appraisal. Once the appraisal has been reviewed and approved by the underwriter, your loan is cleared for loan documents, then signing and then closing.

Our Mortgage Advisors are available at (800) 927-6560 to answer your questions or click here to contact us online.

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