Income & Declaration Documentation Requirements : RWM Home Loans

Documentation needed to support different types of Income and Declarations on 1003:

INCOME	DOCUMENTATION NEEDED
Commissions	Two years' tax returns
Dividends	Two years' tax returns w/Sch. B or Account statements and two years' IRS Form 1099-DIV
Interest	Two years' tax returns w/Sch. B or Account statements and two years' IRS Form 1099-INT
Alimony	Copy of Divorce Decree Two years' tax returns or 12 months’ cancelled checks as evidence of payment
Separate Maintenance	Copy of separation agreement 12 months’ cancelled checks as evidence of payment
Child Support	Child support Court Order 12 months’ cancelled checks as evidence of payment
Annuity	Most recent annuity renewal statement
Auto Allowance	Two years’ tax returns with Form 2106
Pension/Retirement	Letter(s) from organization providing income or Copies of retirement award letters or Most recent tax returns or Form 1099-R or Two most recent bank statements
Royalties	Two years' tax returns w/Schedule E
Social Security	Copy of SSA Award Letter or Copies of tax returns and IRS W-2 or Most recent two months’ bank statements
Trust Income	Copy of trust agreement or Trustee’s statement or Two years' tax returns
VA Benefits	Letter of compensation distribution from Veterans Administration

Questions	DOCUMENTATION NEEDED
Outstanding Judgements	Written Explanation
Bankruptcy	Written Explanation & Complete Copy of BK Papers (all pages)
Foreclosure/Deed in Lieu	Written Explanation
Party to a lawsuit	Written Explanation
Obligated on loan	Written Explanation
Delinquent/default Federal debt	Written Explanation
Alimony, child support, maintenance	Copy of divorce decree, child support order or separation agreement
Down payment borrowed	Loan agreement and statement
Co-maker on a note	Loan agreement and statement

Income & Declaration Documentation Requirements Print