Loan Application Checklist

In general, the documentation you will need includes:
Check for application fee
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.
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.

 

 

The Carson Lowry Home Selling Team
Phone: Cell: Fax:

ResultsforYou | Contact Carson Lowry | Lead in the Home | Get the Highest Price | Press Release | Real Estate Glossary | Our Listings | Selling Your Home? | REALTOR.COM® | Home | Bi-Weekly Mortgage | Mortgage Saving Tips | Writing the Offer | Locking in Rates | Living Trusts | Creative Financing | Heart of the Matter | Site Map | Mortgage Calculators | A holiday sale? | Winterize your Home | Property management | Reasons homes don't sell | Site selection services | Tenant representation | Be Accessible! | Lease analysis | Buying Foreclosures/REO's | The Listing Contract | Contingencies in Contracts | The Back Yard | Need a Bridge Loan? | What's Earnest Money? | Should you paint? | Homeowner Warranties | Plumbing and Fixtures | Real vs. Personal Property | The Kitchen | Role of the MLS | Flowers Add Curb Appeal! | Improvements That Pay | Home Appreciation | Selling One, Buying Another | Fixer Uppers

Copyright © 2008 The Carson Lowry Home Selling Team
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.