Monday, September 22, 2014

Application Checklist for a Home Loan

Know before you go, here is a Application Checklist:

Employment/Source of Income:
  • Name, address & phone number and W-2 forms for all employers for the past two years.
  • 30 days most recent pay stub.
Self-Employed Borrower:
  • Two years signed tax returns with all attachments (individual, Corporate and Patnership).
Asset Verification:
  • All pages of your two most recent statements for all checking, savings, retirement, and investment accounts.
  • Closing statement on sale of prior home.
Liabilities/Debt:
  • Provide: 1)Account Number 2) Monthly payments 3) Approximate balance for all debts such as: credit cards, auto loans, real estate loans, credit union loans.
Miscellaneous Letters/Documents:
  • Copy of Drivers License
  • Bankruptcy Papers and Discharged
  • Copy of Purchase Contract
  • Divorce Decree
  • Deposit for appraisal, Credit Report, Title Search

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