Loan Checklist

In general, the documentation you will need includes:

• Check for application fee

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.

Property Information (if you already have a contract on a house)

• 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).
  

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.