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LOAN APPLICATION CHECKLIST FOR BORROWER & CO-BORROWER
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| A properly documented loan application makes your loan process go smoothly. This checklist will help you gather your paperwork. |
| GENERAL: |
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Complete and sign the residential loan application, Form 1003, and the attached loan info sheet, credit authorization and fair lending notice. Page 4 of the application is a continuation page in case you need additional space for your assets or liabilities. If you make a mistake while filling out the application cross it out, and make a change. Do NOT use whiteout.
Note: if married, use one application, unmarried use a separate application for each person. |
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Copy of Driver's license - must be legible. |
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Copy of your social security ID card |
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If you are NOT a US citizen, provide a copy of your green card (front & back). |
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If you are NOT a permanent resident provide a copy of your H-1 or L-1 visa. |
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Payment to cover the application fee. |
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Name and complete address of all landlords (if applicable) for the past two years. |
| INCOME: |
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Employment history for the past two years, including names, addresses, phone numbers, and length of time with each company. |
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Copies of your most recent and consecutive pay stubs (last 30 days). |
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Copies of W-2 forms and/or 1099 statements for the past two years. |
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Verification of other income (social security, child support, retirement, etc.). |
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If self-employed, you will need copies of signed tax returns for the past two years, including all schedules and a signed profit and loss statement for the current year. |
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If retired, you will need copies of signed tax returns for the past two years. |
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If you have rental property income, bring a copy of all lease agreements. |
| ASSETS: |
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Copies of all bank and/or credit union statements (checking & savings, all pages) for the past three months. |
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Copies of all stock/bond certificates and/or the past three statements from all investment and retirement accounts, 401K, IRA, mutual fund, brokerage firm (all pages). |
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Copies of title documents for all automobiles, boats, motorcycles, etc. (if applicable) |
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Face amount, monthly premiums, and cash values of all life insurance policies.
(Cash value may be used for closing costs or down payments. You'll need documentation from the back indicating the cash value). |
| CREDITORS: |
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Credit cards (account numbers, current balances, and monthly payments). |
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Installment loans (car, student, etc.). You'll need the same details as for credit cards. |
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Mortgage loans (property address, lender with address, account numbers, monthly payment and balance owed on all properties presently owned or sold within the last two years). Also, bring proof of sale on all properties sold. |
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Child care expense/support (name, address, phone number). |
| OTHER: |
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Bankruptcy - bring discharge and schedule of creditors. |
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Adverse Credit - bring letters of explanation. |
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Divorce - bring Divorce Decrees, property settlements, quit claim deeds, modifications, etc. for all divorces by yourself or your spouse. |
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VA Only - bring Form DD214 and Certificate of Eligibility. |
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Retirees - bring retirement and/or Social Security Award Letter. |
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Homeowner's Insurance Declaration page - all properties owned |
| PROPERTY INFORMATION: |
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Copy of the executed purchase agreement |
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Copy of Legal Description and MLS sheet |
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Copy of Listing Contract (if you are selling your current property) |
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Realtor's name and contact info - if available |
