New Mexico Mortgage Loans


Required Loan Doccumentation

Every lender will require doccumentation for proof of income when approving a loan. These doccuments - providing proof that the borrower meets the lenders stipulations for an approval - are often refered to as "Stips".

We know the paperwork is the last thing on your mind when you're excited about a new home, but a borrower who is prepared and prompt in supplying requested stips will be approved more quickly!

The amount of doccumentation you will be required to provide will vary based on the loan program and lender your approval is through. Some will require more, and some less, but the list provided at right will give you a good idea in general what you will need to begin.

Please contact us for additional questions and information.

 
Loans in New Mexico and across the US

Required Documents
  • W-2s - Statements for the past two years.
  • PayCheck stubs - Two most recent (30 days).
  • Bank statements - Three most recent (3 months).
  • Transaction summaries - 401K, IRA, or Mutual Fund Accounts. Most recent.
  • Stocks or certificates of deposits - Provide copies.
  • Purchase and sale agreement - Provide a copy.
  • Rental/lease agrement - Current renters: 12 months canceled rent checks, or name and full contact information for your landlord.
  • Borrowers refinancing - Provide a copy of the deed, and your most recent tax bill.
  • Borrowers with known credit problems - Provide a letter of explanation for each issue.
  • Borrowers who are divorced - Provide fully executed divorce decree.
  • Borrowers who are: self employed, employed in sales, paid by commission, or owning rental real estate:
    • Provide signed personal tax returns, including all schedules, for the past two years.
 
 
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