Loan Checklist

To help you prepare for your loan application appointment, below is a checklist of documentations that your loan officer may request.

Identification

  • Current photo identification (driver’s license or ID card) for each borrower
  • Social security card
  • Resident alien card

Income

  • Current pay stubs (one to two full months)
  • W2s/1099s (last two years) and names and addresses of each employer
  • Evidence of social security/retirement income (for example, a copy of check or award letter)
  • Federal tax returns, with all schedules/attachments (last two years)
  • Partnership/corporate tax returns (last 2 years)
  • Signed year-to-date profit and loss statement
  • K1s for all partnerships
  • Evidence of child support income (for example, 12 months of cancelled checks)
  • Rental agreements on all rental properties (if claimed on your taxes)

Assets

  • Bank statements, all pages (last two to three months)
  • Money market statements (last two to three months)
  • 401k statements
  • Original gift letter (if you are receiving gift funds)
  • Copy of transfer of gift funds to escrow or your bank account
  • Verification of donor’s ability to give gift funds (for example, their bank statement showing where the gift came from)
  • Copy of current mortgage Note (if refinancing)
  • Declaration page from current hazard
  • Insurance policy or preferred insurance provider

Credit

  • Landlord addresses (last two years)
  • Complete divorce settlement document
  • Bankruptcy information
  • Explanation of derogatory credit

Try to get these in order before you start looking for a house (and certainly before you find one you want to put an offer on.) This will help to expedite the loan process. Getting these documents early in the process can also make it much easier to get everything you need when you need it. For example, getting a document from another entity (like a bank or the government) can take time, so start the process early.

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