Loan Application Checklist

 

 

 

 

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

 

 

Mac Storage, Printers and MORE! Updated daily

 

 

Save up to 40% on Last Minute Flights with Hotwire Limited Rates!

1-800-PetMeds Fetch/125x125.gif


   James Loftis P.A. Realtor/Real Estate Broker, CRS, GRI, CIPS,E-Pro

954-261-3361

House About Now?®

All content by James Loftis and it is not allowed to be copied.


Real Estate 911 Inc 7121 Taft Street Hollywood, FL 33024
Phone: Cell: Fax:

Why Title Insurance? | Why Get An Inspection? | Title Information | Why Choose Me | Contact Us | Setting the Sales Price | Tax Closing Costs | Lead in the Home | Loan-Related Closing Costs | Insurance Closing Costs | Getting the Highest Price | Selling your own home | Free Home Valuation | Find A Home for Me | Your FICO Score | How Escrow Works | New Construction | Weather | Broward County | Help Me Move | Why South Florida | Local Links | Local Market News | Closing Costs | First Time Buyers | Get Pre-qualified | Inspection Tips | Home Buyer Checklist | Buyer Resources | Tell a Friend | Real Estate News | Real Estate Glossary | My Listings | Seller Resources | Area Homes | Local/Nationwide Homes | Home | Applying for a Loan | Loan Application Checklist | The Bi-Weekly Mortgage | Mortgage Saving Tips | Your Downpayment | Housing Finance Agencies | Your Buying Power | Writing the Offer | Loan Programs | Mortgage Shopping | Lender Types | Neighborhood Prices | Staging Checklist | Creative Financing | Search Area Homes | 9 Steps to Owning | Mold in the Home | Seller Paid Closing | Site Map | Fixed Rate Mtg Calc | Required Income Calc | Mortgage Calculators | Request Industry Info | Holiday Saving | Property management | Reasons homes don't sell | Be accessible! | Buying Foreclosures/REO's | Types of Listing Contracts | The Listing Contract | Contingencies in Contracts | Listing Commissions | The Back Yard | Need a Bridge Loan? | What's Earnest Money? | Should you paint? | Plumbing and Fixtures | Real vs. Personal Property | The Kitchen | Role of the MLS | Gated Communities | Improvements That Pay | Home Appreciation | Selling One, Buying Another | Fixer Uppers | My Blog

Copyright © 2010 Real Estate 911 Inc
Portions Copyright © 2010 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.