Home Equity Checklist - First Hope Bank

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 1^st 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 1^stlien 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