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.

 

 


Ben Lane, Watson Realty Corp. 1410 Palm Coast Pkwy NW, Palm Coast, FL. 32137
Marie Lane, Watson Referral Realty, 7821 Deercreek Club Rd., Jackonville, FL. 32256 

 Ben (386-931-8531) Marie (386-931-5727)
ben@twolanes.com  marie@twolanes.com

Knowledge is Power. More Flagler Beach/ Flagler Beach Real Estate/Area Resources. 

Why Title Insurance? | Why Get An Inspection? | Title Information | Contact Ben & Marie | Curb Appeal List | Setting the Sales Price | Tax Closing Costs | Loan-Related Closing Costs | Getting the Highest Price | Selling your own home | Free Market Analysis | Your FICO Score | How Escrow Works | Road to Sold: Sellers | Road to Sold: Buyers | Knowledge is Power | Flagler Beach | Palm Coast | Welcome To Flagler | Customer Testimonials | Who Are We? | Getting You There | Closing Costs | First Time Buyers | Get Pre-qualified | Inspection Tips | Home Buyer Checklist | Looking to Buy? | Tell a Friend | Real Estate Glossary | Our Homes | Looking to Sell? | Featured Properties | Home | Applying for a Loan | Loan Application Checklist | Mortgage Saving Tips | Your Downpayment | Document Your Assets | Your Buying Power | Writing the Offer | Locking in Rates | Lender Types | Staying Approved | Neighborhood Prices | Staging Your Home2 | Staging Checklist | 9 Steps to Owning | ARM Calc | APR Calc | 15 vs 30 Year Mtg Calc | ARM vs Fixed Rate Calc | Maximum Mortgage Calc | Rent vs Buy Calc | Mortgage Calculators | Interest Only Calc | Reasons Homes Don't Sell | Be Accessible! | Buying Foreclosures/REO's | Contingencies in Contracts | The Back Yard | What's Earnest Money? | Plumbing and Fixtures | Real vs. Personal Property | Earning Your Trust | Improvements That Pay

Copyright © 2012 Ben & Marie Lane, Watson Realty Corp.
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.