Some of this may seem overwhelming at first. But it only takes a little time
and will make your Home Buying Experience much more enjoyable
once it is out of the way. If you are missing a few of the items,
that's OK for now.

We will be Happy to Meet with You Day or Night,
Pick up your Paper Work for the Lender,
and Explain Every Thing to You.
All at your Convenience.

Please Note: RedHawkRealty receives no compensation for arranging your loan.

For Information on Special Loan Programs, Low Down
Payments, Grants, and Free Credit Repair
Call 951-440-9729

Required of all Borrowers for Final Loan Approval
Why does Underwriter Need This?
Bank Statements

Most Recent Statements (2) full months all the pages,
all accounts

Establish Source of
Down payment and Closing Cost
and Strength of Borrowers
401k, Retirement Accounts, Pension Statements
(2) Most Recent Statement all
the pages
Establish Source of
Down payment and Closing Cost
and Strength of Borrowers
Payroll Stubs
Most Recent Pay
Stubs (1) full month
Verify Current Income
Social Security
Awards Letter
Most Recent
(Comes out in Dec)
Verify Current Income
Other Social Security Benefits, SDI, etc
Most Recent
Awards Letter
Verify Current Income and
Ongoing Income
Teachers (Only)
Current Contract Copy of Degree
Verify Annual Salary (Cannot be verified from Pay Stubs alone)
Satifies the Two Year
Employment Requirement
College Graduate
Copy of Degree
Can be used to Satisfy the Two
Year Employment Requirment
Tax Returns
Most Recent Returns (2) full years, include w-2s, and any 1099s
Establish Income, Review takes
into account Depreciation and
other factors when computing
true Gross Income.
Social Security Card
All Borrowers

Government Tax Code
Required on all Loans

Driver's License
All Borrowers
Verification of Identity
(Picture I. D.)
Color Copy is Best, B&W is OK
Special Circumstances Required Items
Gift Funds from a Family Member for Down Payment
Gift Letter and verification of Gift Funds Source. i.e., Bank Statement
Sourcing and a Full Documented Money Trail is Required. Wait for Lender's Instructions Before
Doing This.
Social Security Benefits for a Child 15 Years
Old or Older
Letter from SS and/or Attending Physician
Establish Income will be Ongoing for More than (3) Years
Social Security Benefits for an Adult who is less than Retirement Age
Letter from SS and/or Attending Physician
Establish Income will be Ongoing
for More than (3) Years
Breaks in Employment Due to Serious
Illness, Disability,
or Child Birth
Breakdown of Start and Stop dates of Jobs
Establish Monthly Income over
a (2) year period excluding
Breaks in Employment
Child Support
Proof of Monthly Payments for 12 months
Verify Child Support is Steady
every Month with no Breaks
Child must be less than 15 years
old or Proof Income will
continue beyond (3) years
Existing Home
Verify Payment, and Impounds
for Taxes and Insurance,
and Establish Equity
Rental Properties
Mortgage Statement, Tax Bill, Proof of Insurance, and Rental Agreements
Establishes Profit and/or Loss
on Rentals
Union Workers
Union Card
Explains Time off Between Jobs
Bankruptcy Papers, including Discharge
Used to Clean up Credit and Establish Discharge Date is (2) years old
Divorce and/or Separation
Divorce Papers and/or Court Approved Separation
Used to Serrate Credit Liabilities
between Spouses because Calif.
is a Community Law State
For a more in depth explanation of the Mortgage Credit analysis we have
included this link to the FHA web site for Underwriters, Handbook 4155.1

You will find Chapters 4 and 5 very informative
and probably more than you need to know.
I can explain it to you...Just Give me a Call
RedHawkRealty 951-440-9729 ~ Ask for Bob on this one!