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Loan Application
Checklist
Purchase |
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Signed purchase agreement |
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If you are selling your current home:
Copy of listing contract |
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If you have sold your current home: Copy
of settlement statement (HUD-1) |
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If you are currently renting: Name, address
and phone number of landlords for the past 24 months |
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If you own more than 1 property: Property
address, mortgage statements and estimated property
value for each property |
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Refinance |
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Property Survey - If changes
to the property have been made, a new survey must be
ordered |
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Prior title policy with schedules A & B |
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Mortgage Statement of loan we are paying
off |
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Income & Assets |
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Pay stubs for the last 30
days |
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Bank Information: Name of bank and your
average balance |
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Statements for each bank, mutual fund,
and/or investment account for the last three months |
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Estimated value of personal property |
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If you have made any large deposits
to your accounts: |
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| * |
Explanation and source
for deposit |
| * |
If large deposit was
a gift:
1. Signed gift letter (lender
can supply)
2. Copy
of gift check
3. Copy
of deposit receipt |
| * |
Note: Not all
loan programs allow gifts to be part of your
down payment |
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If you own a rental property: Tax returns
for the last two years & current rental agreements |
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If you are retired: Pension Award Letter |
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If you receive Social Security: Social
Security Award Letter |
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If you are counting child support as
income: |
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| * |
Complete executed divorce
decree and settlement agreement |
| * |
Copy of twelve months
of cancelled child support checks and/or bank statements
reflecting income deposits |
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Employment |
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Two (2) years history: |
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| * |
Names, addresses, phone
number, employment dates and income of each employer |
| * |
W-2s |
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If you own more than 25% of a business:
Corporate or partnership tax returns |
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If self-employed: |
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| * |
Tax returns for the
last three years (with schedules) |
| * |
Year-to-Date Profit
and Loss Statement prepared by an accountant |
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If you earn Commission, Overtime, Bonus,
Partnership, Rental Property, Trust, Notes Receivable,
Interest/Dividends: Two years' personal federal tax
returns |
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Debts |
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Names, addresses, account
numbers, balances and monthly payments on all current
loans |
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Explanation of credit report anomalies,
including: |
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| * |
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) |
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Miscellaneous |
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Photo ID and proof of Social
Security number |
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Residence addresses for the past two
years |
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Homeowners Insurance declaration page:
Company, Agent Name, Phone Number& Policy Number |
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If
Applicable |
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A copy of your complete executed
divorce decree and settlement agreement |
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If you are not a citizen, a copy of
the front and back of your green card |
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Flood Insurance declaration page: Company,
Agent Name, Phone Number & Policy Number |
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Bankruptcy discharge papers (all pages) |
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Homeowner's Association Name and Phone
Number |
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