Mortgage Application

Information to Bring to Your Mortgage Loan Application

The purpose of this is to assist you in assembling the information your lender will need to process your loan application. Your assistance will ensure your loan application is processed and closed in the shortest time possible.




DIRECTIONS:

1) Be sure to include all account numbers, names and addresses for all bank accounts and creditors when completing the loan application form 

2) Use the list shown below to determine what information and documentation you will need to bring to your loan application interview

ALL LOAN APPLICATIONS

  • Copy of your Purchase Contract, signed by all buyers and sellers (for purchase transactions)
  • Copy of pay stub(s) covering the last 30 days for all applicants
  • Copy of W-2 Forms for the last two years for each applicant
  • Copy of bank statements for the past two months, for all checking, savings and investment accounts (all pages)
  • Name, address and phone number of landlord for the last 12 months
  • Copy of 401K, IRA or any other retirement account statements if using funds for closing must provide conditions under which funds may be withdrawn or borrowed

 

IF YOU ARE SELF-EMPLOYED OR HAVE COMMISSION INCOME



  • Copies of your last two years personal and corporation federal signed income tax returns
  • FHA/VA (only) last two years business federal income tax return. If more than 7 months have elapsed since business year end date provide Year-to-Date Profit and Loss and Balance Sheet

 


IF YOU ARE PAYING OR RECEIVING CHILD SUPPORT/ALIMONY

  • Complete signed copy of all divorce decrees or court order, including any stipulations or modifications
  • Proof of receipt of child support payments for the last 3 months if you intend to use this income to qualify



IF YOU HAVE DECLARED BANKRUPTCY IN THE LAST 7 YEARS



  • Copy of the Petition/Decree, Schedule of Creditors and copy of Discharge
  • A letter or explanation on why you filed for bankruptcy



IF YOU ARE APPLYING FOR A VA LOAN



  • VA Certificate of Eligibility
  • Form DD-214 or, for in-service veterans, Statement of Service
  • Most recent Leave and Earnings Statement (in-service veterans only)
  • Name and address of child care provider (if applicable)

 

MISCELLANEOUS ITEMS



  • Continue to save all paystubs and asset statements until closing
  • If you have graduated from high school or college during the last two years, include a copy of your diploma
  • If during the past two years you have a gap in employment of 30 days or more, include of letter of explanation
  • If you have sold your present home, include a copy of your signed HUD-1 Settlement Statement
  • If the sale of your home is not yet complete, please provide an “Estimate of Proceeds”
  • If you have rental property, include a copy of your current lease and copies of your last two years federal income tax returns
  • If you are receiving a “gift” for part of your down payment, do not deposit gift funds until you visit with your lender
  • If you are being relocated by your employer, provide a copy of your company’s relocation policy
  • If you are a “First Time Home Buyer” and eligible for your local Finance Authority’s Assistance Program, bring in a complete copy of your last three years of Federal Tax Returns