Loan Application Checklist
In general, the documentation you will need includes:
___ Check/Payment/ for application fee - this is often done on line through your lenders website.
Property Information (if you already have a contract on a house)
___ Purchase Agreement.
___ Copy of legal description and MLS sheet.
___ 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-2sStatements for each bank, mutual fund, and/or investment account for the last three months. Estimated value of personal property and furniture. If you have made any large deposits to your accounts:
___ 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. If self-employed:
___ Tax returns for the last three 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, addresses, account numbers, balances and monthly payments on all current loans. 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
___ Photo ID and proof of Social Security number. Residence addresses for the past two years.
___ 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.
In general, the documentation you will need includes:
___ Check/Payment/ for application fee - this is often done on line through your lenders website.
Property Information (if you already have a contract on a house)
___ Purchase Agreement.
___ Copy of legal description and MLS sheet.
___ 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-2sStatements for each bank, mutual fund, and/or investment account for the last three months. Estimated value of personal property and furniture. If you have made any large deposits to your accounts:
___ 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. If self-employed:
___ Tax returns for the last three 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, addresses, account numbers, balances and monthly payments on all current loans. 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
___ Photo ID and proof of Social Security number. Residence addresses for the past two years.
___ 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.
