Required Documents Needed For ALL Loans
Tools for Review - Submission - Closing
Income Calculation Request Form NEW for 2021!
Itemization of Credits on 1003 DOT - use to advise the credits that will be included to reduce cash to close
Early Disclosure Docs
Anti-Steering Disclosure - no longer in our disclosure package, but still a required form if Brokered/Lender Paid loan
Broker Compensation Acknowledgment - required on all brokered loans
Undisclosed Debt - no longer in our disclosure package, but still a required form
For State Disclosures, please email
Required Documents for FHA
Required Documents for VA
Required Documents for USDA
New Construction Documents (FHA. VA, USDA)
Warranty of Completion of Construction (HUD Form 92544-A/VA Form 26-1859)
10 year builder warranty (can be bought by builder or split between builder/borrower)
Certificate of Occupancy - from local authority
(How to obtain) VA Builder ID
If a building permit & Certificate of Occupancy are not available in the county/local area, a letter on letterhead from the
County/City is needed to confirm this
FSB Appraisal Forms
FSB Condo Forms
Income Reviews - Income Calculation Request Form NEW for 2021!
Mortgage Support will review ANY income situation to help determine the income that will be used for Qualifying or Annual income if USDA. Please send us the income documentation as it pertains to the borrower's situation.
Self Employed Borrowers (file Sch C, Sch E, or Sch F) - provide all pages of personal tax returns for the most recent 2 years. If a Sch E shows K-1 income/loss, provide the K-1's and business returns for the most recent 2 years.
Wage Earner Borrowers - each situation is different but we do like to have paystubs, W-2's and an idea of the situation, please. It is very helpful to get a VOE, if available.
**Due to COVID-19, additional documentation is needed for Self-Employed borrowers. Please review our most recent information on this topic.
January 2021 Announcement
SAM Cash Flow Analysis
FSB will only accept our disclosures for Wholesale loans!
If you are needing Initial Disclosures prepared, we will do this!
To request your initial disclosures, please follow the instructions below and use the Initial Docs order form:
Flanagan State Bank
333 Chicago Road
PO Box 302
Paw Paw, IL 61353
FHA ID: 2760600034
VA ID: 7095710000
Mortgage "Cliff Notes":
Welcome to our "Cliff Notes". We have recently updated this section to fit the busy LO and Processor time constraints. Every subject is a one page document (except for a couple, they are 2 pages) that will give you the minimum information you need to complete a specific task.
Income Documentation Forms
SAM Cash Flow Analysis Worksheet - This form is to be used to calculate self employment income from tax returns. Please enable Macros for the form to work properly!
Liquidity Worksheet - This form is used to assess liquidity for Partnerships & S-Corps. Please enable Macros for the form to work properly!
FSB Income Calculation Worksheet & MGIC Income Calculation Worksheet-to be used for W-2'd wage earners. Has sections for Base Income, Overtime, Bonus, Commission and other income. Spreadsheet is programmed to calculate income averages.
Rental Income Worksheet - used to calculate Rental Income listed on a Schedule E or newly rented property that has not had a return filed on it, yet. Please enable Macros for the form to work properly!