Loan Application Checklist

In general, the documentation you will need includes:

Property Information
Purchase Agreement (if you are buying a property).
Copy of Deed (if you are refinancing a property).
Real Estate Taxes, Insurance and Rental Income Information (if applicable) for the subject property
If you are selling your current home, copy of listing contract.

If you have recently sold your current home, copy of settlement statement (HUD-1).

Income Information

Pay stubs for the last 30 days.

Last two years personal tax returns and W2's

If self employed:

Last two years business tax returns

Year-to-Date Profit and Loss Statement prepared by an accountant.
If you own rental property:
Copies of Leases.
If you are retired:
Pension Award Letter
Social Security Award Letter
If you choose to include alimony and/or child support income:
Copy of divorce settlement or court order
Copy of last twelve months of cancelled alimony and/or child support checks.
Assets Information
Statements for each bank, mutual fund, and/or investment account for the last three months.
 If you have made any large deposits (>$1,000) 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.

Debts

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 Social Security Card.
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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