LOAN APPLICATION CHECKLIST

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).

• 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.