Information required on a loan application

Here is a list of the information we typically use to consider your loan application:

Items Needed at Application

1. Copy of Purchase Agreement with All Addendums & Disclosures.

2. Application Fee for Appraisal and Credit Review - $300.

3. W2’s & 1040’s for the Past 2 Years.

4. Most Recent Pay Stubs covering a 1-month period.

5. Checking, Savings, C. D., 401K, & Investment Statements with ALL Pages covering 2-month period.

Other Information that May or May Not apply, Depending on the Circumstances

Employment History
For the last two years, employment dates, addresses.

If you're Self-Employed
Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.

If you have income from:
Commission
Overtime
Bonus
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns - All Schedules

If employed in family business
Personal federal income tax returns and all schedules for the past two years

If Divorced or Separated
Complete executed divorce decree and settlement agreement
Proof of Child Support / Alimony

If Retired or on Fixed Income
Proof of Pension / Social Security Income – Award Letters.

If Past Bankruptcy
Bankruptcy / Discharge Papers.

If Graduated within Last 2 Years
Copy of College Degree

If you own real estate

If you've sold your home but not closed:
A copy of the sales contract

If you've sold your home, closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement

If You own Rental Property
Addresses of Properties Owned and Estimated Value
2-Years Federal Tax Returns including Schedule E - Investment Property Only
Name of all mortgage lenders for the past 24 months, account numbers, monthly payments, balances, and ability to associate with specific properties.

If you rent

Name, address and phone number of landlords for the past 24 months

If you're buying a home

Residential Property Disclosure and Lead Base Paint Disclosure if Built Before 1978

If a source of your down payment is a Gift:
Name, address and relationship of donor.
Please call for details on documenting Gift Funds.
Gift funds will likely be verified in both the donor and recipient's accounts depending on the loan program.
Note: Not all loan programs allow gifts to be part of your down payment.

For FHA Financing
Evidence of Social Security Number and photo identification

For VA Financing
DD214 and Certificate of Eligibility

For Construction/Perm Loan
Signed construction agreement with cost breakdown, builder plan and specifications