FSB Mortgage Checklist

At Fairport Savings Bank we want to make the mortgage process as easy and hassle-free for our customers as possible.  That’s why we’ve created this handy checklist, which will help make sure you’re prepared when you come in to formally apply for your mortgage.

For all borrowers:

Check for application, appraisal and credit report.
Photo ID for each applicant
Most recent 2 months of statements for checking, savings, investments, etc.
Names, account numbers, monthly payments and balances for all creditors
List of real estate owned, including mortgage information and operation expenses
Property taxes on the subject
Name and address of landlords(for previous 12 months, if renting

For employed borrowers:

W-2 Statements for the past 2 years
Most recent pay stubs
If commission income, signed copies of the past 2 years of federal tax returns with all schedules

For self-employed borrowers:

A profit and loss statement for year to date income (signed by your accountant)
Copies of signed personal and business federal income tax returns for the previous 2 years – including all schedules

Plus, if:

Purchasing:  Copy of the original purchase offer (including all addendums) signed by all parties
Building:   1 set of blueprints, specifications (list of materials), a signed contract with builder
Refinancing: Copy of deed, existing survey, proof of insurance, current mortgage statement
Income derived from Social Security, pension, etc: Copy of award letter, 2 years’ federal tax returns with 1099 forms and proof of current receipt
Have alimony or child support obligations: Copy of divorce decree and/or separation agreement
Using child support or alimony as income:  Copy of divorce decree and/or separation agreement, and 12 months of canceled checks or other evidence of receipt
Using rental income:  Copies of past 2 years federal tax returns
Receiving gift funds:  Signed gift letter and proof of donor’s ability to provide gift funds.  Evidence of funds transferred from donor account to borrower’s account will be required prior to commitment
Known credit problems:  Written explanation – judgments, bankruptcy, accounts in collection, etc. Copy of bankruptcy papers (including discharge and list of creditors) and satisfaction of judgment if applicable.


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