FHA/VA Loan Documents

The following is a checklist outlining the commonly required documents for an FHA/VA loan. The items in bold are most commonly required for conventional loans.

(1)Last 2 years W-2’s.
(2)Last 30 day period of pay stubs.

(3)Last 2 years Federal 1040’s (all pages) for borrowers who are self-employed, as sole-proprietor, own 25% or more of a corporation or partnership, commission earnings representing 25% or more of annual income, or income from other non-employment sources.
(4)If employed less than 2 years and previously in the military, a copy of service discharge, or if previously a student, a copy of transcript.
(5)Name, address, phone number, and start and ending dates of employer(s) for last 24 months.
(6)Account statements for last 2 months (all pages) from all checking, savings, investment, and retirement accounts.
(7)Name, address, phone number of landlord(s) for past 24 months.

(8)For VA loans, Certificate of Eligibility and DD214.
(9)Bankruptcy in last 10 years, a copy of the discharge (all pages).
(10)Divorce Decree and Separation Agreement to document financial liabilities and / or spousal support / child support.
(11)Gift funds permitted, but require very specific documentation. Consult HMC.
(12)Letter of explanation for any gap(s) of employment during past 24 months.
(13)Letter of explanation for any derogatory credit, collections, liens, or judgments.
(14)Letter of explanation for large deposits on bank statements not identified as pay roll deposit or transfer from another account.

This list is not all encompassing, but certainly covers the vast majority of typical documentation or information needed to obtain full loan approval. The items in bold (01, 02, 05, 06, & 07) are the most common and most basic items required.

Thanks to Stacy for providing this checklist!

Stacy Groza Davis
Real Living Mortgage, LLC
An Affiliate of Wells Fargo Home Mortgage
740-689-8388 (Direct)
740-334-8410 (Cell)
866-922-5442 (E-Fax)