What information will be needed for the application (and how it's kept private)
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Here is a start list of the information we will use to consider your loan application with us.
Name, Address, Phone, Email (if available), Social Security Number, for borrower and co-borrower if any
Employment History
Last two years 1040 Federal Tax Returns (all schedules, no State), employment dates, addresses, salary.
Current pay stubs, last two years W-2 forms.
Two months comlpete bank statements (not web shots) for Checking and/or Savings Accounts and Certificates of Deposit
(used to verify down payment and closing costs);
Automobiles
Make and model of automobiles, their resale value
Liabilities and Other Non-Mortgage Debt
Creditors names, addresses, account numbers
Monthly payments and balances (will be included from credit report)
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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 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.
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
Name, address and phone number of landlords for the past 24 months
Purchase sales contract or offer to purchase and all addenda
Furnish contract with original signatures of buyer and seller
If a source of your down payment is a gift:
Name, address and relationship of donor.
Gift funds will be verified in both the donor and recipient's accounts.
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