Loan Application Checklist



In general, the documentation you will need includes:


Identification
Copy of government issued photo ID (i.e. driver's license, passport, etc...)
Property Information (if you already have a contract on a house)
Purchase Agreement.
Copy of MLS sheet, if applicable
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.
  For the past two years:
 

Names and addresses of each employer.

W-2s
Statements for each bank, mutual fund, and/or investment account for the last two months (include all pages).
  If you have made any large deposits to your accounts (Large deposits are typically any deposits that are over 50% of your gross monthly income):
 

Explanation and source for deposit.

 If large deposit was a gift:
 

Signed gift letter (lender can supply).

 Copy of gift check.

 Copy of deposit receipt.
  If you own more than 25% of a business:
 

Corporate or partnership tax returns for last 2 years, including K-1s.
  If self-employed:
 

Personal and Business tax returns for the last two years (with schedules).

 Year-to-Date Profit and Loss Statement prepared by an accountant.
  If you own rental property:
 

Tax returns for the last two years and current rental agreements.
  If you are retired:
 

Pension Award Letter.
  If you receive Social Security:
 

Social Security Award Letter.
  If you are counting child support as income:
 

Copy of divorce settlement.

 Copy of twelve months of cancelled child support checks.

Debts

Names, balances and monthly payments on all current loans (Note this info will also populate from credit report). 
Explanation of credit report anomalies, including:
 

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.

 Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Recent mortgage statements for any mortgages you currently have.
Residence addresses for the past two years and estimated dates lived at each.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.

  


For a printable copy of this checklist, click on the link below:
Loan Application Checklist.pdf


If you haven't already completed a loan application, here is the link: Online Loan Application


For any questions, feel free to contact us at 407-834-3377


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