|
|
Loan Application Check List :
*Social Security Number,
___--for borrower and co-borrower, copy of Social Security Card.
*Drivers License,
___--copy for DOB and Patriot Act.
*Employment History :
___--Complete 2 year history, company name, employment dates, addresses, contact person (HR dept.), contact #'s, position, salary.
*Income Documentation :
___--30 days pay stubs to show "year to date" earnings,
___--Copy of W2 (ONLY) for previous 2 years (self employed need full tax returns)
*Deposit Account Info :
___--Last 60 days cchecking/savings account and Cert of Deposit statements. MUST be original mailed statement, printed copies must be "stamped and signed" by a bank employee to verify.
___Name, address, account #, and phone #.
*Asset Documentation :
___--Stocks, Bonds, and IRA's last statement or declarations page.
___--Life Insurance Policies, Declarations page, value
___--Personal Property, Vehicle's, shop equiptment, farm-outdoor equiptment, appraised collector's items.
___--Alternate Documentation, Account liabilities NOT on your credit report that you have a good payment history on. All good accounts need to documented.
Creditors names, addresses, account numbers, and 12 month payment history. Company letterhead please.
* "Other" income documentation proof if :
___--You're self-employed, Two years signed tax returns, all schedules.
___--Mid-Year, Current balance sheet and profit and loss statement if more than six months into the new fiscal year, must be signed by CPA.
___--If divorced or separated :
___--Complete executed divorce decree and settlement agreement showing any reassignment of liability.
___--Payment history of alimony/child support over the past 12 months, DHR/CPS printout to verify.
___--Any personal accounts receivable, contracts or lease agreements you claim income from, be prepared to show 12mos bank statements to verify deposit. (Did you file it last year?)
*If you have income from:
___--Commission, Overtime, Bonus, Partnership, Rental Property, Trust, Notes Receivable, Interest/Dividends
___--You'll need two years' personal federal tax returns. All schedules please.
*If employed in family business
___--Personal federal income tax returns and all schedules for the past two years.
*If you own real estate :
___--Name and address of mortgage lenders for the past 24 months, account number or last mortgage statement.
___--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 to verify net proceeds that you received.
* If you rent : VOR
___--From a company --Name, address and phone number of landlords for the past 24 months. Letter verifying residency on company letterhead.
___--From an individual --Name, address, phone # and 12 months canceled checks to verify payment.
*If you are BUYING a home :
___--Purchase sales contract or offer to purchase and all addenda, must be sign before submitting to U/W.
*If a source of your down payment is a gift:
___--Name, address and relationship of donor. (Usually nonprofit organization used by lender.)
------Note: Not all loan programs allow gifts to be part of your down payment.
*For FHA Financing :
___--Social Security Card
___--Driver License, state photo ID.
*For VA Financing :
___--DD214 and Certificate of Eligibility
*For Construction/Perm Loan :
___--Signed construction with cost breakdown, builder plan and specifications
|
|
