Preapproval Needs List (PDF)

For a PDF View of the Preapproval Needs List Please Click Here

  • Pay Stubs – Most recent full month
  • W-2’s and / or 1099’s – Most recent 2 years for all positions
  • Federal Personal Tax Returns (1040’s) – Most recent 2 years filed (All Forms, Schedules, and Statements – State is not Required)
    (If Extension filed, please provide a copy of the Extension. If recent taxes not filed, please notify)=
  • Bank Statements (Checking & Savings including blank pages) – Last 2 months
    (Explain cash deposits over $500 – Need proof or it con’t be used to qualify)
  • Retirement Account Statements – Most recent 2 Monthly or most recent Quarter if Quarterly
    (Qualified accounts include 401(k), IRA, SEP IRA, etc.)
  • Investment Account Statements – Most recent 2 Monthly or most recent Quarter if Quarterly
    (Include but not limited to: Mutual Funds, Money Market, Stocks & Bonds, CD’s)
  • If using Retirement or Investment Account – Terms of Withdrawal of funds
  • If Refinance – Most Current Insurance Declaration Page and Mortgage Statement
    If You are a Business Owner:
  • Federal Corporate Tax Returns (1120’s) or Partnership Returns (1065’s) – Most recent 2 years (All Schedules – State is not Required)
    (If Extension filed, please provide a copy of the Extension. If recent taxes not filed, please notify)
  • Year-to-Date Profit and Loss Statement and Balance Sheet, signed
  • Business or Professional License (If applicable) or Standard CPA Letter from your Tax Preparer
    If You are a Real Estate Investor:
  • Most Recent Mortgage Statement for each Rental Property
  • Most Recent Insurance Declaration Page for each Rental Property
  • Copy of Rental – Lease Agreements for each Rental Property
  • HUD1 Fees Statement – For recent Real Estate purchases that have not yet shown on tax returns
  • Mortgage Note – For recent Real Estate purchases that have not yet shown on tax returns
  • If Bankruptcy: Copy of completed with Schedule of Disbursement and Bankruptcy Discharge
  • If Divorced: Copy of Final Divorce Decree and / or Child Support Decree
  • If Using Pension Income: Letter of Verification of Pension
  • If using Social Security or Disability Income: Letter of Award
    (You may need to call the Social Security Office to obtain)
  • If Military Veteran using VA: Copy of DD-214 and Certificate of Eligibility (Green Form)
  • Non-Citizen – Copy of Green Card or applicable VISA (front and back) – Must not be expired
  • If Buying a Condo or PUD – Condo or PUD Questionaire (HOA may charge $150 – $250)
  • If Down Payment or Closing Costs Gifted – Gift Letter from donor and a copy of their Bank Statement to prove Proof of Funds. (Click here for a copy of the Gift Letter)
  • If Unemployed within Past 2 Years: Letter of Explanation
  • If any Derogatory Credit: Letter of Explanation Please call with any questions. Have a great day!!

Sincerely,

Kevin Fritz, MLO #: 220254
Branch Manager ~ Mortgage Banker Iron Point Mortgage
Email: kfritz@ironpointmortgage.com Phone: 916-985-3200
Fax: 916-583-7400

Iron Point Mortgage is a © 2015 A division of Finance of America Mortgage LLC | Equal Housing Lender | NMLS 1071 Mortgage Banker License #0910184 Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.

1849 Iron Point Road, Suite 120, Folsom, CA 95630
Phone: 916.985.3200 Fax: 916.583.7400 Website: www.IronPointMortgage.com