Loan Application Checklist

In general, the documentation you will need includes:
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-2s
Statements for each bank, mutual fund, and/or investment account for the last three months(Quarterly and Semi Annually)
If you have made any large deposits to your accounts:

 Explanation and source for deposit.(additional proofs may be required)
Estimated value of personal property and furniture.
  If you own more than 25% of a business:
 

2 Years corporate or partnership tax returns.
  If self-employed:
 

Tax returns for the last three years (with schedules).

 Current Year-to-Date Profit and Loss Statement.
  If you own rental property:
 

   Rental properties not showing up on the schedule E of the most recent tax return provided, please provide the current lease agreement(s).

  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.

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.

 

 

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