Loan Application Checklist

In general, the documentation you will need includes:
Check for application fee
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).

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.

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.

 

 

    
 
  


Direct National Lending dba MortgageSource, LLC Ala Moana Building Suite 2010 Honolulu, HI 96814
Phone: Cell: Fax:

Contact Us | Closing costs - loans | Your FICO score | Closing Costs | Download Adobe Acrobat | Tell a Friend | Real Estate Glossary | Loan App Checklist | Bi-Weekly Mortgage | Your Down Payment | Loan Application | The Loan Process | Get Your Loan Faster! | Fixed Vs. Adjustable | Improve Your Credit Score | Financing Closing Costs | Getting Qualified | When to Refinance | Loan Application Info | Rates and A.P.R. | Refinancing Options | Bi-weekly Pmt Calc | Mortgage Points Calc | Mtg Tax Savings Calc | Mortgage Qualifier Calc | Mortgage Payoff Calc | Refi Interest Savings Calc | Refi Breakeven Calc | Mortgage Calculators | Customer Login | Our Service Area | What is PMI? | Eliminating PMI | Disputing Credit Reports | 401k for Downpayment | VA Loans | Broker vs. Loan Officer | Government Loan Programs | Buyer Don'ts | How Much You Can Afford | HUD-1 Settlement Statement | Debt-to-Income Ratios | Are You Pre-Approved? | Buydown Options | Mortgage Tuneup

Copyright © 2008 Direct National Lending dba MortgageSource, LLC
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map