Loan Application Checklist

In general, the documentation you will need includes:

Appraisal/Credit Report fee is all we collect prior to closing and this can be paid via check or credit card

Property Information (if you already have a contract on a house)

Purchase Contract signed by all parties buyers and sellers
If you have sold your current home, copy of settlement statement or Closing Disclosure CD.
Copy of Earnest Money Check once it has cleared the bank

Income & Assets

Pay stubs for the last 30 days.
  For the past two years:
 

Name, address and HR contact for each employer.

Most recent 2 Years of Tax Returns (all schedules) and W-2s, 1099's, etc
Statements for each bank, mutual fund, and/or investment account for the last two months or most recent quarter - all pages.
 
  If you have made any large deposits to your accounts:
 

Explanation and source for deposit.

If large deposit was a gift:
 

Signed gift letter (we will provide).

Copy of gift check.

Proof of the funds leaving account 1 and entering account 2.
  If you own more than 25% of a business:
 

Corporate or partnership tax returns.
  If self-employed:
 

Tax returns for the last two years (with ALL schedules).

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

Tax returns for the last two years and current rental agreements. Monthly mortgage statement, insurance declarations page and tax bill for each rental property.
  If you are retired:
 

Pension Award Letter.
  If you receive Social Security or Disability:
 

Social Security or Disability Award Letter.
  If you are counting child support or alimony as income:
 

Copy of final divorce settlement agreement.

 


Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
 

Late payments, charge-offs, collections, judgments and/or liens.

Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

 


Miscellaneous

To comply with the Customer Identification Act two forms of ID will be required. The following are acceptable forms of ID: Drivers License, Passport, Military and military/dependent ID cards, state issued photo ID card, non-resident alien card or foreign Cedular card.
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.