Loan Application Information
Proper information and documentation are another key to making the loan process as smooth as possible. In addition to the application, there is supporting documentation required for your protection as the borrower and for our protection as the lender. We are bound by federal law and committed to keeping your information private and the information is used for the sole purpose of underwrting your mortgage.
Here is a general list of the supporting documention that we will need in addition to your loan application - in some cases, additional documentation may be requested.
Employment History
For the last two years - employment dates, addresses, salary.
W-2 forms
One month's most recent pay stubs
Check and Savings Accounts and Certificates of Deposit
Last 3 months' statements
Stocks, Bonds, and Investment Accounts
Last 3 months' statements or copies of stock certificates
Retirement Plan
Approximate vested interest value
Copy of latest statement
Other income information you may need:
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
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
Payment history of alimony/child support over the past 12 months, if it is a financial obligation.
If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.
If you own Real Estate
Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances
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 currently rent
Name, address and phone number of landlords for the past 24 months
If you're buying a home
Purchase sales contract or offer to purchase and all addenda
Furnish contract with original signatures of buyer and seller
I will notify you personally if any additional documentation will be required.
