Mortgage Process:

Thank you for choosing Berkshire Bank Home Lending for your mortgage financing needs! Upon submission of your application a disclosure package will be provided to you. 

➤ Verification of Income (all Borrowers):

• Copy of most recent 2 consecutive paystubs and last 2 years W-2s
• If receiving social security income, most recent benefit award letter.  Last personal tax return may be required
• If receiving pension, retirement and/or  IRA income, the most recent award letter and/or most recent 2 years 1099s and most recent complete IRA or retirement account balance statement
• If self-employed, last 2 year’s personal federal tax returns (all pages/schedules) and YTD P&L statement; K-1’s for each business the borrower has an ownership interest in.  If the borrower has a 25% or more ownership interest, last 2 years partnership or corporation federal tax returns (all pages/schedules) and  YTD P&L and balance sheet
• If receiving  rental income, last 2 years federal tax returns (all pages/schedules)
• Acceptable proof of other sources of income stated on your loan application 

➤ Property Documentation:

• Most recent mortgage statement for the subject property and all additional properties owned
• Most recent tax bills for the subject property
• Most recent insurance binder (hazard and flood) for the subject property and all additional properties
• If condominium, Bank condo affidavit to be completed by HOA representative.  Provide copies of the  master deed, unit deed, master insurance policy, proof of HOA fee, bylaws and covenants, and budget 

➤ Asset and Liability Documentation:

• Most recent complete bank statement (all pages) to document assets as requested
• List of credit accounts to be paid along with most recent statements for debt consolidation
• Child support or alimony payments must be documented with all pages of the complete legal agreement 

➤ Two (2) Valid Forms of Valid Identification:

• Driver’s license, social security card, state ID, passport, military ID, or permanent resident card            

Upon receipt of written intent to proceed your loan officer will reach out to you with the specific documentation needed to complete you loan application request.  Please contact your Loan Officer to discuss specific documentation requirements in more detail.