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Home Equity Checklist - First Hope Bank

Home Equity Checklist

General Information

Asset Documentation

  • Copies of bank, retirement, and/or brokerage account statements showing six (6) month’s reserves (for 1st liens) or nine (9) month

Home Owner’s Association Dues

  • Evidence of annual dues, if applicable

Home Owner’s Insurance

  • Copy of your declarations page with evidence of annual premium

Mortgage Statement

  • Copy of your most recent statement from your 1st lien holder, if applicable

Real Estate Taxes

  • Copy of your most recent tax bill

Second/Vacation Home

  • Copy of real estate tax bill, home owner’s insurance, home owner’s association dues, and mortgage statement from 1st lien holder, if applicable

Income Information

Salary / Hour –

  • 2 most recent year’s W-2s
  • Pay stubs covering most recent 30-day period

Self-Employed
When you have a 25%or more ownership interest in a business.

  • 2 most recent year’s W-2s
  • Pay stubs covering most recent 30-day period
  • 2 year’s signed/dated Personal Federal Tax Returns with all Schedules and Statements
  • Schedule C Businesses
    • Self-Prepared Profit and Loss
  • Schedule E Businesses
    • 2 year’s signed/dated Business Federal Tax Returns with all Schedules and Statements
    • Profit and Loss, 3rd party or staff CPA prepared

Commission

  • 2 most recent year’s W-2s and pay stubs covering most recent 30-day period or Form1099, whichever is applicable
  • 2 year’s signed/dated Personal Federal Tax Returns with all Schedules and Statements

Rental/Investment Property

  • 2 year’s signed/dated Personal Federal Tax Returns with all Schedules and Statements
  • Most recent mortgage statement from lien holder, if applicable

Retirement

  • Social Security Awards Letter
  • 401K/IRA/Pension Statement with Form 1099