Client Checklist

This section is provided for the client (you) so you may prepare for your loan and not be overwhelmed with the process. Below you will find a checklist of necessary documents if you are purchasing a home or refinancing a home with us.  Every client’s situation varies so we may require more document depending on the circumstances. The list below provides help for most circumstances.

Client Checklist

The Disclosure Package. Follow the email with subject “eDisclosure Invitation from WEI Mortgage Corporation” sent by your loan officer.  review, print and sign (or e-Sign) the disclosure package.
 The Contract. A complete copy of the fully ratified contract is required. (Please consult your realtor)
 Employment Verification Documentation (2 previous years of following documents).  If you are paid by W2, two paystubs covering one month.  If you are self-employed or commissioned, 2 years of tax returns (with all schedules) & copies of 1040, W-2, 1099 or K-1.  If you own a company, Limited / General Partnership Return (form 1065), S-Corp Return (form 1120S) or US Corporation Return (form 1120) are required.
 Most recent 2 monthly statements from Bank/Investment/Retirement Account (all pages) – MUST be issued within 30 days from the settlement/closing date
 Photo copies of ID – Must include photo

  1. U.S. Citizens: Driver’s License, Passport, other government issued ID
  2. U.S. Permanent Residents: Alien Registration Card (“Green Card”)
  3. Foreign Nationals: Valid U.S. Work Visa
 Insurance Agency’s Contact Information.* Hazard/Home Owners Insurance needs to be purchased starting on the closing/settlement date. The policy MUST cover the replacement cost of the home.  (Please consult an insurance professional).
 [Refinance only] Owner’s Title insurance.
 [If applicable] Home Owners Association/Condominium Contact information: phone number, website, contact person
 [In some cases] Verification of Employment Statement. (We will supply the form that needs to be submitted to a manager or the HR department of your company to be filled out and signed)
 [If some monies are gifted to you] Signed Standard Gift Letter. MUST be from a family member and they MUST fill out and sign a standard gift letter.

Things to Do

To Do
 1.  Keep originals of all pay stubs, bank statements and other important financial documentation. Do keep all pages of these documents even if the pages are blank.
 2.  Provide all documentation for the sale of your current home. (i.e., sales contract, closing statement employee relocation/buyout program.)
 3.  Notify your Loan Officer if you plan to receive gift funds or any other monies that are not from your own assets for closing costs.
 4.  Notify your loan officer of any employment changes (i.e., change of employer, recent raise/promotion, transfer, change of pay status, such as salary to commission scale, etc.)
Notify Your Loan Officer If You Plan To:
  • Change jobs/employer, this change would have on the approval/approvability of your mortgage loan.
  • Make major purchases during or prior to closing (i.e., new car, furniture, appliances, electronics, etc.) as this may impact your qualification ratios.
  • Obtain and/or deposit large sums of money.  FNMA/HUD guidelines require documentation as to the source of these funds (i.e., copy of bonus check, copy of tax refund, copy of insurance settlement, gift letter with copy of check and deposit slips, etc.)
  • Close/open or transfer any asset accounts. (i.e., If you transfer all the funds in your stock account to your savings account, documentation is required.)
  • Open or increase any liabilities, including credit cards, signature loans, etc., during the loan process. Please check with your loan officer for any documentation that will be required and what impact this would have on your qualification ratios.

*Obtaining Homeowner’s Insurance

If you are purchasing a home then your will need to provide us with the name and number of a preferred insurance agent or company so that we can aid you obtaining a homeowner’s insurance policy.  First 12 month of the policy premium must be paid prior to closing.