Loan Application Checklist
In general, the documentation you will need includes:
- Property information (if you already have a contract on a house)
- Purchase agreement
- If you are selling your current home, copy of listing contract
- If you have sold your current home, copy of the settlement statement (Hud-1)
Income
- Pay stubs for the most recent 30 days
- Names and addresses of each employer for the past two years
- W-2’s for the past two years
- If you are self-employed or own more than 25% of a business, include:
- Two years personal tax returns (all schedules)
- Corporate or partnership returns (all schedules)
- Year to date profit and loss (if necessary)
- If you own rental property: Personal 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 canceled checks
Assets
- Statements for each bank, mutual fund and/or investment accounts for the last two months
- If you have made any large deposits to your account: 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
Debts
- Names, addresses, account numbers, balances and monthly payments on all current loans
- Explanation of credit reporting anomalies, including: Late payments; credit inquiries for the last six months; charge offs; collections; judgments and/or liens
- Bankruptcy filed within last seven years: Bring a copy of your bankruptcy papers
Miscellaneous
- Photo ID and proof of Social Security number
- Residence addresses for the past two years
- If applicable, a copy of divorce decree
- If you are not a citizen, a copy of the front and back of your Green Card