What to bring when applying for a loan.
- Copies of pay stubs covering the most recent 30 day period.
- Addresses for the most recent two years
- Gross monthly income (before taxes)
- Most recent 2 years’ worth of W-2s and federal tax returns
- Proof of pensions, retirement, disability or Social Security benefits.
- Proof of income from rentals, investments, etc. (this includes copies of current leases)
- Proof of child support or alimony paid/received (including a copy of your divorce decree and separation agreement)
- If self-employed
- Besides your personal tax returns from above, please provide the last 2 years of business tax returns, including any 1099s and K-1s.
- Current year profit and loss statement
- Your lender will pull a copy of your credit report to determine each account, balance, and minimum monthly payment.
- If you have loans that been recently paid off, are in a deferment, or are brand new – please bring that information with you!
- Please bring copies of the last two months of statements for each account in your possession.
- Be sure to copy every page, even if it is blank or contains no useful information.
- If the statement says there are six pages, the mortgage company will want all six pages!
- If you only get quarterly statements, then just bring a copy of the most recent one.
- List of assets in stocks, bonds, land
- Life insurance cash value (documented if for down payment)
- If applicant is selling a home, a copy of sales contracts
- Social Security numbers for all parties
- Veterans - Certificate of Eligibility and DD-214 (for VA loans only)
- Cash or check to pay for application fee. We don’t charge an “application fee” here, though many lenders do. However if you decide to proceed, we will need a deposit for the appraisal to be ordered!
Your Realtor should provide
- Copy of sales contract
- Copy of MLS listing sheet on property
- Instructions on how appraiser is to gain entrance