To begin Loan Process you will need: Purchase:  | Signed purchase agreement | | If you are selling your current home: Copy of listing contract | | If you have sold your current home: Copy of settlement statement (HUD-1) | | If you are currently renting: name, address and phone number of landlords for the past 24 months | | If you own more than 1 property: Property address, mortgage statements and estimated property value for each property |
Refinance: | Property Survey – If changes to the property have been made, a new survey must be ordered | | Prior title policy with schedules A & B | | Mortgage Statement of loan we are paying off |
Income & Assets: | Pay stubs for the last 30 days | | Bank Information: Name of bank and your average balance | | Statements for each bank, mutual fund, and/or investment account for the last three months | | Estimated value of personal property | | If you have made any large deposits to your accounts: | | Explanation and source for deposit | | If large deposit was a gift (not all loan programs allow gifts to be part of your down payment):
§ Signed gift letter (We can supply)
§ Copy of gift check
§ Copy of deposit receipt | | If you own a rental property: Tax returns for the last two years & 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 at income: | | Complete executed divorce decree and settlement agreement | | Copy of twelve months of cancelled child support checks and/or bank statements reflecting
income deposits |
Employment: | Two (2) years history: | | Names, addresses, phone number, employment dates and income of each employer | | W-2s | | If you own more than 25% of a business: Corporate or partnership tax returns | | If self-employed: | | Tax returns for the last tree years (with schedules) | | Year-to-Date Profit and Loss Statement prepared by an accountant | | If you earn Commission, Overtime, Bonus, partnership, Rental Property, Trust, Notes Receivable, Interest/Dividends: Two years’ personal federal tax returns |
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) |
Miscellaneous: | Photo ID and proof of Social Security number | | Residence addresses for the past two years | | Homeowner’s Insurance declaration page: Company, Agent Name, Phone Number & Policy Number |
If Applicable: | A copy of your complete executed divorce decree and settlement agreement | | If you are not a citizen, a copy of the front and back of your green card | | Flood Insurance declaration page: Company, Agent Name, Phone Number & Policy Number | | Bankruptcy discharge papers (all pages) | | Homeowner’s Association Name and Phone Number |
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