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Mortgage Checklist

Mortgage Documentation Checklist

  • Your email addresses and cell number. Also, please let us know your preferred method of contact so we communicate with you the way you prefer!
  • Copies of two years most recent W2 forms for all income to be considered in qualifying.
  • Copies of two most recent consecutive paystubs evidencing at least 30 days of year to date income. The paystub must show your name, the employer’s name, pay-period and year to date pay figures, be dated and other identifying information.  Depending on how you are paid, we may only need one, but two is playing it safe.
  • For self-employed borrowers, copies of two years most recent Federal (we will never ask you for your State returns) personal AND business tax returns with all schedules. For instance, if you file a Schedule K1, please make sure this is attached as well. Please note - you’re considered self- employed if you have 25% or more ownership interest in a business. If your business doesn’t claim a loss and you aren’t using self-employment income to qualify then we probably won’t need your business returns at all!
  • If you own investment property, provide the corresponding tax, insurance, and mortgage bill/statement for each property. Also, copies of the most recent two years Federal. We’ll need these to document the rental income.  
  • Child support or alimony – If you are obligated to pay either of these, please provide a copy of the corresponding agreement. If you receive either of these, you don’t need to tell us unless you want the income considered in qualifying in which case we’ll need the agreement plus some additional documentation.   
  • Two months most recent bank statements for all accounts you choose to disclose. We’ll need all pages, even if the back side of transaction history or even virtually blank. (We know it seems over-the-top, but just humor us, ok?)
  • If your application is for financing to purchase a property, a copy of the fully executed Purchase and Sale Agreement. If you don’t have all signatures on your copy, we’ll take what you’ve got for now. You can always send one with all signatures later. If you are purchasing in Massachusetts and the property has a septic, we’ll also need a copy of the Title V Certification.
  • If you’re refinancing, a copy of your most recent tax bill, homeowners insurance declaration page, and most recent mortgage statement. These documents are really helpful! We’ll attempt to get a copy of your current deed online to determine how you hold title. If you choose to change the way you hold title,  please make sure you let us know up front.  
  • If you intend to close in a trust, provide all pages of the entire trust agreement including the schedule of beneficiaries (this is important) so that we can make sure the trust meets our guidelines.

Depending on your loan request, we may need to ask you for additional documentation. This may sound like a lot, but trust us; it’s not as bad as it looks. We’ll do our absolute BEST to only require the minimum amount of documentation to get your loan approved and closed. That’s a promise!

Newburyport Five Cents Savings Bank  NMLS #174450
63 State Street, Newburyport, MA  01950
Direct:  (978) 462-3136
Toll Free:  (844) 639-3483
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