Loan Checklist

 

Thank you for the opportunity to be your home lender! To help us better serve you, we are providing the following list which includes the typical documentation needed to complete the mortgage process. After the documentation is reviewed, there may be more detailed documentation deemed necessary to complete the mortgage process.

 

By furnishing any and/or all of the documentation, an applicant is in no way obligated to accept the terms and conditions of the mortgage offered, nor does the applicant have to provide these documents to receive a Loan Estimate.

Identification and Asset Documentation

  Identification Documentation

  • Copy of unexpired picture identification (e.g., Driver’s License, VISA, Passport, Military ID, or State Issued ID) for each applicant

    Asset Documentation

  • Most recent two (2) months of bank statements, ALL numbered pages
  • Most recent two (2) months of brokerage statements, ALL numbered pages
  • Most recent two (2) months of retirement statements, ALL numbered pages
  • Terms of withdrawal for retirement accounts
  • Supporting documentation for any recent deposits not noted as automated payroll deposits

Income  Documentation
(as applicable) for each applicant

W2 Borrowers

  • Most recent paystubs covering 30 days of income
  • Most recent two (2) years of W2s for all companies 
  • Most recent two (2) years of Personal Federal Tax returns with all schedules (if requested by Loan Originator)

Self-Employed Borrowers

  • Most recent Profit / Loss Statement and current balance sheet
  • Most recent two (2) years of Personal Federal Tax returns with all schedules
  • Most recent two (2) years of Business Federal Tax returns with all schedules
  • Most recent two (2) years of W2s for all companies (if applicable)

Retired Borrowers

  • Most recent Social Security 1099R Statement or Awards Letter
  • Any retirement statements as applicable
    • 1099s
    • Pension Statements
    • Dividends Interest

Additional Income Documentation
(as applicable)

  • Divorce Decree if Receiving Child Support or Alimony
    • 6 months of proof of receipt of Child Support
      • bank statements
      • cancelled checks
  • 1099s
  • Unemployment statements

Additional Loan Documenation
(as applicable)

Purchase Transaction

  • Executed Purchase Contract/Agreement with all
    • Property Disclosures
    • Addendums
  • Copy of Earnest Money Check (a copy of the cleared check may be required as well, check with your Loan Officer)
  • If any deposits or funds for closing are from a Gift (e.g. from relative, employer, non-profit, etc.), then more documentation will be required depending on the loan program – check with your Loan Officer for a specific list for your chosen program
    • Find out more about gift information here

 

  • Homeowners Insurance Agent and Company name
    • The first years premium will need to be paid prior to or at closing

 

  • Executed Sales Contract/Agreement with all addendums for sale of current residence (if applicable)

Refinance Transaction

  • Current mortgage statements for all loans*
  • Current homeowner's insurance declarations with ALL pages*

  * Not applicable if your current loan is with OSB Community Bank

Construction Loan
Includes Construction-to-Perm and Construction Only Loans

  • Purchase contract for lot purchase (if applicable)
  • Signed construction contract with builder
  • Signed and notarized sworn statement
  • Blueprints
  • Builder completed New Construction Loan Checklist - request this from your loan originator

Rental Properties

For all real estate owned properties:

  • Current Leases
  • Current mortgage statement
  • Homeowners insurance
  • Tax bill

Other Items as Applicable

  • Trust Agreement(s) if property currently held in a trust
  • Condo Decs and Bylaws
  • HOA Letter 
  • Documentation for any new credit not shown on the credit report
  • Divorce Decree if Paying Child Support or Alimony
  • Bankruptcy paperwork
  • Letter of explanation on derogatory credit including late payments, foreclosures, bankruptcies, collections, and disputed items in the last 2 years