WHAT DOCUMENTS SHOULD I BRING TO A LOAN APPLICATION?
When applying for a mortgage loan, there are many documents required by the lender. Make sure you bring everything with you when you apply so there is no delay in getting pre-approval from your lender. Getting pre-approved prior to making an offer on a home may give you bargaining power if there is more than one offer presented on a home.
Items Needed at Loan Application include:
- Most recent consecutive paycheck stubs for the past 30 days
- All W-2s for prior 2 year period
- A legible copy of your driver's license (to comply with the Patriot Act)
- Complete personal federal tax returns for the most recent year
- Statements for the most recent month on all asset accounts (checking, savings, mutual funds, retirement, etc.)
- 2 year employment history complete with company name, address, telephone number and contact name (If you were a student, a copy of your transcripts is required)
- 2 year history for personal residence. (If you were a renter, the name, address and telephone number for each landlord is required)
- Check for the appraisal and credit report
Other documents may be requested depending on your personal situation. These may include:
- Divorce decree, separation agreement and/or child support papers
Complete bankruptcy papers, including discharge papers
Complete corporate tax return with all schedules for most recent year
A current profit and loss statement
FINANCING YOUR NEW HOME
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