Loan Programs
Conventional
FHA
VA
USDA
Investment
Our Process
Buying and selling in the current market requires professionals to guide you along your journey. Our team at Mentor Home Loans will look at your overall financial goals and talk with you about the right loan program to fit your lifestyle. You can trust our professionals to be honest, fair, and on your side.
ALL BORROWERS • Copies of W-2s for the last two years; • Copies of paycheck stubs for the last 30 days (most current); • Copies of checking and saving account statements for the last three months (all pages); • Copies of quarterly or semi-annual statements for checking, savings, IRAs, CDs, money market fund, stock, 401k, profit sharing, etc.; • Income Tax Forms; • Copy of sales contract when ratified; • Employment history for the last two years (address any gaps of employment); • Residency history over the last two years, with name, phone number, address and account number of Land or Mortgage Company; • Rental property copies of leases plus mortgage information; • Canceled earnest money check when it clears or corresponding bank statement, if applicable; • Commissioned or bonused income — if 25% or more of base, must have two years of tax returns; • Check for the expense of appraisal and credit report; • Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information; • Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail; • If paid off mortgage in the last two years, need copies of HUD1; • Copy of driver’s license for both applicant and co-applicant.
SELF-EMPLOYED BORROWERS • Copies of most recent two years of tax returns (with all schedules including K-Is, if applicable); • Copy of current profit and loss statement and balance sheet; • Copy of corporate/partnership tax returns for the most recent two-year period if owning 25% or more of the company — copies of W-2s and/or 1099 forms.
DOCUMENTS WHICH MAY BE REQUIRED • Relocation Agreement - if move is financed by employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits; • Previous bankruptcy: need copies of petition for bankruptcy and discharge, including supporting schedules; • Divorce Decree, if applicable; • Documentation supporting moneys received from social security/retirement trust income, i.e. copies of direct deposit bank statements, awards letter, evidence income will continue for at least three years.
SELF-EMPLOYED BORROWERS • Copies of most recent two years of tax returns (with all schedules including K-Is, if applicable); • Copy of current profit and loss statement and balance sheet; • Copy of corporate/partnership tax returns for the most recent two-year period if owning 25% or more of the company — copies of W-2s and/or 1099 forms.