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Applying
for a Mortgage
Items
Needed for a Mortgage Application:
Bank
Accounts
- Last two
months statements
Stocks and Bonds
Monthly Payments (credit cards, car payment, child support, etc.)
Name accounts are in:
- Estimated
balances
- Minimum
payments
Mortgages (two full years)
- Name and
address of institutions
- Loan numbers
- Monthly
payments
- Estimated
balances
Self
Employed
- Two years
personal tax returns (all schedules) with original signatures
- If incorporated,
two years corporate tax returns with original signatures
- Current
year-to-date profit and loss and balance sheet
Commission Income
- Two years
income tax returns with W-2s and/or 1099s with original signatures
Employment for Past Two Years Complete address of employer
- Position
- Salary
- Length of
employment
- Previous
two years W-2s and current 30 days of paystubs
- Copy of
diploma and/or transcript if in school during the past two years
- Please provide
an explanation of any gaps or if more than two jobs in past two
years
Residence
for Past Two Years
- Full address
- If renting,
full name, address, and phone number of landlord
- Amount of
rent
Transferred Employees
- Copy of
company relocation policy or letter
- Copy of
agreement with relocation company
- Copy of
sales contract on home
- Copy of
equity check
- Copy of
Closing Statement (HUD-l)
- Swing Loan
Agreement, if applicable
Gift Letter
- Gift letter
from family member or significant other
- Verification
of receipt of gift funds
Paying Off Bills
- Copy of
last statement
- Copy of
cashier's check and paid receipt from creditor
Earnest Money
- Copy of
cancelled check (front and back) if amount exceeds $1000.00
Bankruptcy
- Copy of
complete petition (list of creditors) and discharge
- Thorough
explanation letter
Divorce
- Complete
divorce settlement
- Complete
final decree
- Complete
tax returns if counting alimony as income
- Proof of
receipt of child support income for past twelve months, if applicable
Selling Present Home
- Copy of
contract or listing agreement
- Closing
statement on present home prior to closing of proposed home
Fees
- Credit
report and appraisal money collected at application. If the seller
is to pay these fees, you will be reimbursed when your loan closes.
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