Application and Documentation Checklist

The following list outlines the type of information you'll generally need to present when you apply for a loan. Your lender will tell you specifically what to bring.

Application:

Verify Income:

  • Employers' names and addresses for last two years (include dates of employment and gross monthly income).
  • W-2s for last two years and pay stub(s) for last 30 days.
    • If self-employed:
      • Year-to-date profit and loss statement and balance sheet.
      • Signed tax returns for at least one year.
  • Supporting documentation for any other income.

Assets:

  • Gift letter (if applicable).
  • Last two months' bank statements for the following:
    • Checking and savings accounts.
    • Credit unions.
    • Security accounts (stocks, bonds, life insurance, IRAs, 401(k)s, etc).

Liabilities:

  • Information taken directly from credit report.
  • Need to verify current names, addresses, account number, and balances for:
    • Present creditors (car loans, charge accounts, student loans, etc).
    • Present mortgage lender (last 12 months' canceled mortgage checks and most recent statement).
    • Present landlord (last 12 months' canceled rent checks).
    • You must also indicate creditors not on credit report.

Documentation:

  • If applicable, with letter explaining circumstances:
    • Judgments: provide copy of release/satisfaction.
    • Bankruptcy: provide copies of schedule of Bankruptcy with a list of creditors and/or discharge of Bankruptcy.
    • Other delinquent credits of record.

Property:

  • Fully executed contract of sale for subject property (purchase only).
  • Fully executed contract of sale of present home (if being sold).
  • Schedule of real estate owned, copies of rental agreement (leases only), and signed tax returns for the past two reporting years.
  • Current mortgage statements on all properties owned (if applicable).

Other:

  • Addresses of residences for the last two years and landlord contact information.
  • If you were a full-time student at any time in the past two years, a copy of your diploma or transcripts.
  • Social Security Number and State/Federal issued Photo ID, can use green card if applicable.
  • Copy of Divorce Decree (if applicable).