Loan Application Checklist
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| In general, the documentation you will need includes: |
| Check for application fee |
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| Property Information (if you already have a contract on a house) |
| Purchase & Sales Agreement. |
| Copy of the legal description. |
| If you are selling your current home, copy of the listing contract. |
| If you have sold your current home, copy of settlement statement (HUD-1). |
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| 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. |
| | If you have made any large deposits to your accounts: |
| | | Explanation and source for deposit. |
| | | If the large deposit was a gift: |
| | | | Signed gift letter (lender can supply). |
| | | | Copy of gift check or 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. |
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| 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). |
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| 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. |
