Proper documentation is required to support your application. Below are tips to ensure the information you provide is complete and accurate.

Additional documents may be required based on your individual situation. Your Mortgage Loan Officer or Home Services Specialist will alert you if additional information is needed.

Document Tips

Income documentation
Pay stub documentation must be dated within 30 days of application and contain:
  • Most recent 30 consecutive days of pay (This may require you to provide multiple pay stubs if paid weekly, bi-weekly or semimonthly.)
  • Year-to-date earnings
  • Your name and employer's name
  • Your base salary or hourly rate if paid on an hourly basis

W-2s should reflect income for all employment during the previous two years.

When required, signed tax returns should be provided for the last two years, including all schedules.

Self-employment income must be documented by providing the previous two years’ personal and business tax returns. Tax returns should include the following:
  • All schedules, including the business returns
  • A signed and dated 1040
  • When required, a copy of the most recent quarterly or year-to-date profit-and-loss (P&L) statement, signed and dated

Asset documentation
Bank statements, including investment and retirement accounts, should:
  • Include the most recent two months' statements, or the most recent quarter for quarterly statements
  • Clearly show name of account holder, bank’s name and address, account number, beginning and ending balance, and all deposit and withdrawal activity
  • Contain all pages, even if they are blank (otherwise the statement will appear incomplete)

Gift funds from a relative, fiancé/fiancée or domestic partner can be used for a portion of the down payment or closing costs when eligibility requirements are met.

Information about gift funds is required to verify the source and purpose of the funds and to meet eligibility requirements. A gift from any other source or a gift with repayment requirements may impact loan eligibility. A gift letter is required and must include specific information to meet gift eligibility requirements. Your Mortgage Loan Officer will let you know what other details should be included in this letter.

Sale of an existing home (for purchase transactions only)
A fully executed Purchase Agreement and HUD-1 Settlement Statement for the home you are selling
! Opening of a new bank or credit account prior to or during the loan process may result in requests for additional documentation. If you have opened or need to open new bank or credit account within 30 days of applying for a home loan or anytime during the loan process, please notify us and provide a letter of explanation detailing the circumstances.
Letters of explanation
Letters of explanation may be required as a condition of loan approval and can be used to provide additional detail on your application, credit report or documentation. All letters of explanation must reference the instance (please be as specific as possible) and must be signed and dated.

Letters of explanation must be prepared by the applicant and may be required for the following reasons:
  • Employment history inconsistencies among your credit report, loan application and/or income documentation information
  • Employment history gaps appearing on your loan application
  • Name variations on your credit report
  • Derogatory credit; please be sure to detail what caused it to occur and steps you have taken to prevent future occurrences
  • Address inconsistencies between your credit report and loan application
  • Credit inquiries reflected on the credit report; each inquiry must be explained, and any new credit obtained as a result must be disclosed
  • Overdrafts occurring in your bank account
  • Bank account deposit activity that is inconsistent with paycheck deposits or other prior activity in your bank accounts. Any recent large deposits inconsistent with your account history must be disclosed and explained. Additional supporting documentation may be required.
  • Source of funds for recently opened asset accounts

Online Document Upload, Fax and Mail Tips

It's critical that you submit the necessary documents in a timely manner to avoid disruptions in the processing of your application.

Make sure to provide all pages of your documentation. If there is anything on a page, even just a page number, include it in your submission. In addition, do not alter any documents — for example, using correction fluid or marker to cover information. If sending in a screenshot or printing from an online source (e.g., online bank statements), be sure the Web address is visible.

To protect your privacy and the security of your information, please do not submit any documents or other personal information via email. There are three options to send us your documents:

Follow the guidelines below to help ensure documents come through clearly for review.
  • Fax documents to 1.866.409.1050.
  • Always use the fax cover sheet from the Home Loan Welcome Package.
  • Always include the applicant's full name and loan number on the top right corner on all pages of the fax.
  • If you lose your original cover sheet, create a cover sheet with the following information: applicant name, loan number and property address associated with the loan. You may contact your Home Services Specialist to receive a new cover sheet.
  • Use one page per document type submitted (e.g., do not place a pay stub and a bank statement on the same page).
  • Ensure that your fax machine prints out a confirmation sheet indicating that your documents were submitted successfully.
! Some fax machines run on a VoIP (Voice over IP) network. If the machine you're using runs on VoIP, set the fax speed lower than 33.3 to avoid transmission errors.
Follow the guidelines below to ensure timely receipt of your mailed documents.
  • Use the business reply envelope included in your Home Loan Welcome Package when mailing your documents.
  • Mail all documents to: Bank of America, N.A.
    7105 Corporate Dr.
    Plano, TX 75024-4100
  • Include the fax cover sheet, which can also be used for mailing and is provided in the Home Loan Welcome Package, for timely processing.
  • If you lose your original cover sheet, create a cover sheet with the following information: applicant name, loan number and property address associated with the loan. You may contact your Home Services Specialist to receive a new cover sheet.
  • Please note that all items mailed will not be returned, so be sure to make copies if necessary.