Needs List

Below is a list you will need to provide to get a loan approval (Although the list conforms with most states-it is designed for Texas residents. If seeking a loan outside of Texas- please contact David DeBowsky to find if any other information is needed.)

All Borrowers:

  1. Copies of W-2's for the last two years
  2. Copies of paycheck stubs for last 30 days (most current)
  3. Copies of complete checking and saving account statements for last 3 months (all pages of the statements)
  4. Copies of quarterly or semi-annual statements for checking, savings, IRA's CD's, money market funds, stock, 401K, Profit Sharing, etc.
  5. Copy of sales contract when ratified
  6. Employment history last two years ( address any gaps of employment)
  7. Residency history last two years, with name, phone number, address and account number of Landlord or Mortgage Company. Rental property copies of leases plus mortgage information
  8. Canceled earnest money check when it clears or corresponding bank statement, if applicable
  9. Commissioned or bonused income-if 25% or more of base, must have tax returns
  10. Check for appraisal and credit report payable to PRIME LENDING INC. for $385
  11. Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey
  12. Any Assets used for downpayment, closing costs and cash reserves must be documented by a paper trail
  13. If paid off mortgage in the last 2 years, provide a copy of the HUD1 statement
  14. Copy of Homeowners Declaration of Insurance page. If a purchase, please send name and number of insurance agent.


Self-employed Borrowers:

  1. Copies of most recent 2 years tax returns (with all schedules including k-1's if applicable
  2. Copy of current Profit & Loss statement and balance sheet
  3. Copy of current Corporate/partnership tax returns for most recent 2 year period if owning 25% or more of company - copies of W-2's and/or 1099 forms


Documents Which May Be Required:

  1. Relocation Agreement if move is financed by an employer, i.e. buyout agreement plus documentation outlining company paid closing costs benefits
  2. Previous bankruptcy, need copies of petition for bankruptcy and discharge, including supporting schedule
  3. Divorce Decree if applicable
  4. Documentation supporting moneys received from social security/retirement trust income, i.e. copies of direct deposits bank statements, award letter, evidence income will continue


Documents Needed For FHA/VA Loans:

  1. FHA: Copy of Social Security card and Drivers License for all applicants
  2. VA: Original Certificate of Eligibility and copy of DD214 Discharge Paper
  3. Name and address of nearest living relative