What type of information is needed for the loan application? Below is a typical list of required information that your Loan Officer will need.
Anyone named on the mortgage will need to submit the following:
Personal information: |
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| Social Security Number | |
Employment History for the past two years |
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| Employer names, addresses, phone numbers, dates of employment, salary and current pay stubs and/or W-2’s. | |
Banking Information |
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| Name of Bank – address of bank, if not local | |
| Account numbers for all savings, checking and certificate of deposits | |
| Statements for the past 3 months | |
Investment Information – Stocks, Bonds & Investment Accounts |
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| Broker Name & address | |
| Description of stocks, bonds etc. | |
| Statements for the past 3 months or copies of stock certificates | |
Life Insurance policies |
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Name of Insurance company |
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| Policy number, face amount and any cash value | |
Retirement Plan |
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| Approximate vested interest value | |
| Last statement received | |
Automobiles |
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| Make, model and current resale value | |
| If payments are still being made, how many left, how much and to who? | |
| Account numbers – coupon book | |
Other assets |
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| Market value of personal and household property | |
Liabilities |
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| Credit card debts – name and address of creditors | |
| Monthly payments and current balances for each | |
Other Income information: |
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| If self employed | |
Two years tax returns, profit and loss statements, both company and personal if separate. |
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If you have any of the following types of income, you will need the past two years federal tax returns. |
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| Commission | |
| Overtime | |
| Bonus | |
| Partnership | |
| Rental Property | |
| Trust | |
| Notes Receivable | |
| Interest/Dividends | |
| If you are employed in a 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 and/or child support over the past 12 months, if it is a financial obligation. If you want this to be considered as part of your income, be prepared to provide 12 months of cancelled checks or bank statements showing the deposits. |
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| If you own real estate | |
| Please provide a the name and address of all mortgage lenders in the past 24 months, account numbers, monthly payments and current balances. | |
| If your home is currently under contract, but not closed | |
| We will need a copy of the sales contract | |
If your home has recently sold and you will be using the proceeds for your new down payment, please submit: |
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| a copy of the HUD-1 uniform settlement statement that you received at closing. If you do not have, your Realtor or Title Company should have a copy of this. | |
| If you are currently renting: | |
Please supply us with the name, address and phone number of your Landord’s for the past 24 months. Copy of lease verifying expiration or month to month commitment. |
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| If you are buying a home: | |
| Please submit a fully executed copy of the contract, with addendums and disclosures. | |
| Is your down payment in coming in the form of a Gift? If so, ; | |
we need the name, address and relationship of the donor. |
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FHA Financing: |
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| FHA requires evidence of your social security number as well as a photo ID. | |
VA Financing |
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| The VA will require the DD214 and Certificate of Elgibility | |
Construction/Perm Loan |
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Will need a copy of the signed construction contract, with cost breakdown, builder plans and specifications. |
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