Documents needed for a FHA Mortgage Loan
My name is Nate Herd, I am a Mortgage Banker with Amerifirst Financial, Inc. I will help you through the entire mortgage process from start to finish, making your experience as smooth and painless as possible and get your loan completed before the close of escrow.
I have made a list of required documents that will be needed to submit a loan to the underwriter. This list has comments and suggestions to help you understand why everything is necessary.
The lender will require clear copies of the following items for all individuals that will be on the loan, items can be faxed, scan/emailed, mailed, or delivered in person. NOTE: some items do not fax well, scan/email is the most efficient method.
Clear and legible copy of your Drivers License or State ID Card.
Clear and legible copy of your signed Social Security Card (please make sure it is signed).
Copy of most recent 2 years W-2’s and or 1099’s.
Needed to verify income.
Copy of most recent 2 years Federal Tax Returns (all pages and schedules).
Please sign and date (the current date) on page 2 next to the “Sign Here” section. If you do not have these you can contact your accountant or I will give you the phone number and directions to request them from the IRS.
Copy of most recent month of pay stubs (2 if paid bi-weekly or 4 if paid weekly).
Needed to verify income.
Copy of most recent 2 months of bank statements (all pages, even if last page is blank).
This will show that you have the money required for the down payment and closing costs. Any large deposits other than payroll will need to be sourced and documented (transfer from another account, money from a 401K, gift funds), cash is not allowed.
Everyone has a different financial situation, below are additional items that may be required.
Retirement Income- If you collect Social Security, I will need a copy of your most recent award letter. You should have received this at the beginning of the year. You can contact the Social Security Administration and request a copy if you do not have it.
Pension Income- I will need a letter from your employer stating how long you will receive the income (must continue for at least 3 years).
Investment Account- If you are using money from a 401K or retirement account I will need a copy of your most recent statement (all pages). If you are using these funds for the down payment or closing costs I will need proof of the terms (cash funds or a loan and repayment plan) and proof of the funds being deposited into your personal bank account. This can take some time so we need to plan accordingly to ensure a timely close of escrow on your home.
Current rental or mortgage- If you currently have a mortgage your credit report will show the payments being made. If you rent from a management company I will need all of their contact information to verify rent had been paid and is current. If you rent from a private individual I will need a copy of 12 months of canceled rent checks.
Gift Funds- I will provide a gift letter to be completed by the person gifting the money, must be from a family member. I will also need a copy of the check and an updated bank statement from you showing the gift money being deposited into your account.
NOTE: Do not apply for any new credit or make any large purchases on your credit cards during the loan process. Before your loan closes the lender will verify that no new debt has been obtained. This is very important, it can raise your debt and become a problem with qualifying.
If you have any questions or need any additional assistance please contact me:
Nate Herd
Loan Officer
Amerifirst Financial, Inc.
4550 East Bell Road #163
Phoenix, AZ 85032
Office: 602-707-6002
Cell: 602-321-3090
Fax: 602-707-6032
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