We make the process easier with electronic drop box's and the ability to handle most documents digitally. The loan process is becoming more digital everyday. Each situation can require different pieces but below is a good outline of the standard documents needed to get you from start to finish.
1. Last Two Pay stubs (to cover 1 month) for both borrowers.
2. 2015 and 2016 W2s (We also need your K1s if your tax returns show any partnerships)
3. 2015 and 2016 Federal Tax Returns (1040 and all schedules) ONLY IF YOU HAVE ANY self employment, partnership, retirement, rental income, and / or 2106 Unreimbursed employee business expenses.
4. MONTHLY bank statement for last 2 months (all pages)
5. Copies of your driver’s licenses to comply with the Patriot Act
6. Copy of your home owner’s insurance declaration page or contact info of your insurance agent. We need to add your new lender to your insurance policy’s mortgagee clause.
7. Recent mortgage statements (or loan numbers) to ensure we pay off the right loans.
8. HOA Statement or name and phone number of the HOA management company
9. For FHA loans, we need a copy of your social security card. If you don't have it, we will have you sign a SS Verification form.
A list of commonly used documents that you might come across during your loan process:
4506-T
Request for Individual Tax Return Transcript.
4506-T EZ
Short Form Request for Individual Tax Return Transcript for individuals that have filed a 1040 or 1040-EZ.
710 Financial Assistance Form
Uniform Borrower Assistance Form. This form collects detailed information about your property, your finances, your hardship, and more. There are multiple versions of this form, but they all collect similar information. Please check with your Caliber Cares Specialist to see which one applies to you.
Adoption
Legal documents or statements showing the amount of the adoption support payments, how often you receive them, and how long they will continue.
Bank Statement
Statements for all banking and investment accounts. Include all statement pages, even if they are blank.
Child Support
Legal documents (such as a divorce decree or separation agreement) showing the amount of the payments, how often you receive them, and how long they will continue.
Credit Authorization Letter
Form that is required to be signed by a non-borrower in order to pull their credit history.
Death Certificate
An official document, signed by a physician, of the cause, date, and place of a person's death.
Disability Award Letter
Benefit statement or a letter from the provider showing the amount of your disability benefit payments, how often you receive them, and how long they will continue.
Divorce Decree
A legal document that is the final ruling or judgment order that makes a marriage termination official. The document must be signed by a judge and/or recorded through the courts.
Electronic Funds Transfer Authorization Agreement
The ETF agreement allows a customer to set up recurring auto-debit payments from a checking or savings account. This payment method is also known as an Automated Clearing House (ACH) payment. The customer can select whether they want to make bi-weekly, semi-monthly, or monthly payments. Recurring ACH payments eliminates the need to make monthly payments with a paper check through the mail.
Employment Letter
A letter confirming employment when a pay stub is not available. The employment letter should contain the hire date, compensation information including the term (weekly, bi-weekly, monthly, etc.), year-to-date earnings, contact information and be signed by the employer.
FHA Loss Mitigation Application (FHA LMA)
This form is exclusive to FHA (Federal Housing Administration) insured loans and collects detailed information about your property, your finances, your hardship and more.
Hardship Letter
This letter documents the reasons for hardship. You only need to send this form if this information isn’t collected in the assistance form, or if you have a co-borrower who needs to fill out their own affidavit.
HOA Letter
A homeowners association letter explains what the monthly dues are, what special assessments may be coming and whether the owner's payments are current.
Income Contribution Letter
Verification letter of someone living in the home, which is not on our Note and is contributing to monthly income. Caliber requires a letter stating how much they contribute to the household monthly.
Letter of Administration/Executive of Estate
A formal document issued by a court of probate appointing a manager of the assets and liabilities of the estate of the deceased in certain situations.
Loss Mitigation Application (LMA)
This form collects detailed information about your property, your finances, your hardship, and more. There are multiple versions of this form, but they all collect similar information. Please check with your Caliber Cares Specialist to see which one applies to you.
Monthly Expenses
A list of the borrower's monthly obligations, the name of the expense and the amount. You only need to send this information if this information is not collected in the assistance form.
Pay Stub
A document that shows compensation information and includes year-to date earnings.
Power of Attorney
A written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter.
Profit and Loss
A financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time - usually a fiscal quarter or year. This form must be signed and dated.
Public Assistance Award Letter
Benefit statement or a letter from the provider showing the amount of your public assistance benefit payments, how often you receive them, and how long they will continue.
Quit Claim Deed
A quitclaim deed is a legal instrument by which the owner of a piece of real property, called the grantor, transfers any interest to a recipient, called the grantee. The deed must be signed by a judge and/or recorded through the courts.
Rental Agreement
A contract between a lessor and lessee that allows the lessee rights to the use of a property owned or managed by the lessor for a period of time.
Social Security Award Letter
Benefit statement or a letter from the provider showing the amount of your social security benefit payments, how often you receive them, and how long they will continue.
Tax Form
A document used to file federal income taxes.
Unemployment Award Letter
Benefit statement or a letter from the provider showing the amount of your unemployment benefit payments, how often you receive them, and how long they will continue.
Verification of Income (VOI)
Proof that a borrower can provide to show how much their average monthly income is.