Dear Customer,

Thank you for your interest in a mortgage with Passumpsic Savings Bank and our mortgage partner, Northeast Home Loan. We are happy to assist you with your financing needs, and it's our goal to make this process as smooth and fast as possible.

In an effort to process and underwrite your file as quickly as possible we will need the following information to accompany your completed application packet:

  • Paystubs - Most recent paystubs totaling 1 month of income.

  • W-2 Wage Earnings - previous 2 years of W-2s and/or 1099s. VHFA loan programs (first time homebuyers) will need 3 years of documents.

  • Federal Tax Returns - previous 2 years of signed tax returns including all schedules. VHFA loan programs require 3 years of signed tax returns.

  • Deposit Accounts - This includes checking and savings accounts. Most recent 2 months of statements including all pages and it needs to be on letterhead.

  • Social Security/Pension - Copy of your most recent Award letter if applicable

  • Child Support Obligation - Copy of the child support order and divorce decree if applicable.

  • Child Support Income - Copy of the child support order, divorce decree, and verification of receipt if you wish to include that in your monthly income. Only if applicable.

  • Real Estate Owned - Copy of the following information for all real estate currently owned (including the subject property if refinancing):
    • Most recent mortgage loan statements for all mortgages on the property
    • Most recent paid tax bill (if not escrowed with the mortgage)
    • Most recent paid homeowners insurance (if not escrowed with the mortgage)

  • Purchase Transactions - Copy of the following information for the property you are looking to finance:
    • Complete copy of the purchase and Sales Agreement
    • Most recent paid tax bill
    • Warranty Deed
    • Listing Sheet

  • Construction Loan - Include a copy of the building plans, contract with your general contractor and estimates for all costs involved.

  • Business Tax Returns (if applicable) - If you have more than 25% interest in a business please provide the previous 2 years of business tax returns.

  • Check - made payable to "Northeast Home Loan" ($46.75 for single borrower or $52.00 for joint applicants) for the credit investigation.

Thank you again for choosing Passumpsic Savings Bank