FHA Loan Documentation

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When applying for an FHA loan, you will be asked for documentation to support your income, liabilities, and funds to close. This documentation will establish your credibility as a borrower, your ability to repay the FHA home loans and your willingness to repay the loan. More documentation is needed than a conventional loan in most cases.


The following is a list of documents that most likely will be required by the lender to process your FHA mortgage when a

Purchase Money Transaction as required by HUD:


  • One full month's worth of paystubs showing Year to Date earnings
  • Last 2 years W-2's (salaried income)
  • For Self Employed Borrowers; Last 2 years tax returns with all schedules (commission, dividend, rental income)
  • Copies of social security, pension, and/or retirement award letters (if applicable)
  • Last two months bank statement for all accounts with all pages
  • Current statements for all investment accounts with all pages
  • Written explanation for any credit derogatories
  • Copy of Bankruptcy and discharge paperwork (if applicable)
  • Divorce decree and any settlement paperwork (if applicable)
  • Copy of your Drivers License and Social Security Cards.
  • Name, Address and phone number of your Landlord for the past 12 months.
  • Copy of your Sales Contract with Listing and Selling Agent phone Numbers
  • Well and Septic Certifications (if applicable)

 

For Regular Refinances including Non FHA loans to FHA loans, Cash Out Loans and certain other transactions:

 

  • One full month's worth of paystubs showing Year to Date earnings

  • Last 2 years W-2's (salaried income)

  • For Self Employed Borrowers; Last 2 years tax returns with all schedules (commission, dividend, rental income)

  • Copies of social security, pension, and/or retirement award letters (if applicable)

  • Last two months bank statement for all accounts with all pages

  • Current statements for all investment accounts with all pages

  • Written explanation for any credit derogatories

  • Copy of Bankruptcy and discharge paperwork (if applicable)

  • Divorce decree and any settlement paperwork (if applicable)

  • Copy of your Drivers License and Social Security Cards.

  • Copy of you current Mortgage coupons or statements

  • Clear Termite Report

  • Copy of your Homeowners insurance

  • Copy of your Survey (only applies in survey states)

 

For FHA Streamline Refinances the following documentation may be required:

 

  • Copy of your current Note
  • Copy of the First Two pages of your mortgage or Deed of Trust
  • Copy of your Drivers License and Social Security Card
  • Copy of your Homeowners insurance
  • Copy of your Survey (only applies in survey states)
  • Copy of you current Mortgage coupons or statements

 

Once receiving your documentation most lenders will handle acquiring other documentation such as title reports, credit reports and appraisals if required. It is not uncommon for the lender to have the borrower pay for the cost of the credit report and appraisal.