:: LOAN APPLICATION CHECKLIST ::
This checklist will help you in gathering information necessary for processing your loan application. Having these documents will speed up the loan application process and the loan will be closed in the shortest amount of time possible.
- Copy of your Purchase Contract, signed by all buyers and sellers.
- Original pay stub(s) covering the last 30 days (e.g., if paid twice per month, bring two pay stubs and continue to save your pay stubs until you close.
- Original W-2 forms and K-1s for the last two years.
- Original bank statements for the past three months, for all checking and savings accounts (continue to save your bank statements until you close).
- Name, address and phone number of landlord for the last 24 months, if you are currently renting or have rented in the past 24 months.
- Original 401(k) and IRA statements (most recent statement).
- If receiving retirement or social security, provide award letter.
- Original investment account statements for the past three months, if applicable (e.g., mutual fund accounts and/or annuities).
- A check for payment at application for an appraisal, credit report and survey.
- If you have graduated from high school or college during the last two years, please enclose a copy of your diploma and/or transcript.
- If during the past two years you have a gap in your employment of 30 days or more, include a letter explaining the reason for the gap.
- If you are selling your present home, provide us with a copy of your signed HUD-1 Settlement Statement showing the amount of proceeds. (If the sale of your home is not yet closed, provide us with a copy of a contract and Realtor's "Estimate of Proceeds."
- If you are receiving a "gift" for your part of a down payment, or to pay-off debts, do not deposit the gift funds until you visit with your Loan Officer.
- If you are being relocated by your employer, please provide a copy of your company's relocation policy/offer.
- If you are applying for a "First Time Home Buyer" program, bring a complete copy of your last three years of Federal Tax Returns. (Please sign in blue ink.)
If you have commission income, rental income, or own 25% or more of a business, or are self-employed:
If you have declared bankruptcy, provide complete copies of Petition/Decree, Schedule of Creditors and Discharge. Include a letter of explanation on why you filed for bankruptcy.