LOAN APPLICATION CHECKLIST

Get your ducks in a row before applying for a loan. This handy loan application checklist will ensure you are prepared to get the loan you need.

❑ Real estate contract with legal description and deposit receipt.

❑ Check for appraisal and credit report, varies with lender.

❑ Name and complete address of last two years of residence.

❑ Name and complete address of last two years landlord or mortgage company.

❑ Explanation letter regarding any employment gaps over the last two years.

❑ Name and address of last two years employers with dates.

❑ Explanation letter of any credit deficiencies.

❑ Social Security Numbers of all borrowers.

❑ Current gross monthly income figures.

❑ Copy of paystubs covering a 30-day period and last two years W2s and or 1099s.

❑ If income is derived from other sources, two years tax returns, both business and personal with all schedules, signed.

❑ If self-employed, current profit and loss on income and expenses.

❑ If divorced, copy of complete recorded decree and settlement.

❑ Name, address, and account numbers of all places where assets are  held (checking, savings, CD’s, IRA’s, etc.) 3 month’s of most current statements.

❑ List of stocks, securities with market value – certified copies.

❑ Estimate of cash value of life insurance.

❑ Schedule of real estate owned, with value, lien, rental income, payments.

❑ Year, make, and model of vehicles.

❑ Estimate value of furniture and personal property.

❑ Name, address, numbers, balance and payments of installment loans

❑ If child support is being paid, proof of payments.

❑ If relocating, information regarding buy-out of house, payment of closing costs, etc. from company.

❑ If selling current house, copy of listing agreement or contract.

❑ Homeowner’s Insurance documentation.

Additional Requirements for FHA/VA Loan Applications

❑ Copy of Driver’s License and Social Security Cards

❑ Name and address of nearest living relative.

❑ Copy of DD214 and/or original Certificate of Eligibility (VA only).

❑ Child care expenses must be provided.