Information required on a loan application

WHAT INFORMATION WILL BE NEEDED FOR THE APPLICATION?

Anything you submit over our website or deliver to us is fully secure, and we never, ever share it with anyone except by permission. In order to complete an application and close your loan transaction, please gether and be prepared to provide copies of the following items for each borrower on the loan (to the extent applicable).

FOR ALL LOANS:

Borrower ID

Social Security Number.
Copy of Photo ID

Employment History

For the last two years, employment dates, addresses and salary.

Current month's pay stubs

Last 2 years' W-2 forms.

Check and Savings Accounts and Certificates of Deposit

Location of bank accounts, account numbers and balances.
Address of bank if out of town.
Last 3 months' statements.

Stocks, Bonds, and Investment Accounts

Broker's name and address, description of stocks, bonds, etc.
Last 3 months' statements or copies of stock certificates.

Cash Value Life Insurance Policies

Cash value, name of insurance company, policy number, face amount.

Retirement Plans

Approximate vested interest value.
Last 3 months' statements.

Automobiles

Make and model of automobiles, as well as their resale value.

Other Assets

Market value of personal and household property.

Liabilities and Other Non-Mortgage Debt

Creditors names, addresses, account numbers, monthly payments and balances.

OTHER INCOME INFORMATION YOU MAY NEED:

If you're self-employed:

Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.

You'll need two years' personal federal tax returns if you have income from any of the following:

Commissions.
Overtime.
Bonuses.
Partnerships.
Rental Property.
Trusts.
Notes Receivable.
Interest/Dividends.

If divorced or separated:

Complete executed divorce decree and settlement agreement.

Payment history of alimony/child support over the past 12 months, if it is a financial obligation.

If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.

IF YOU OWN REAL ESTATE

Address of property or properties, monthly mortgage payments, real estate taxes and insurance amounts, and rental agreements (if rental property).

If you've sold your home but not closed:

A copy of the sales contract or printout of MLS listing.

If you've sold your home, closed, and you will use the proceeds for your new down payment:

A copy of the HUD-1 Uniform Settlement Statement.

IF YOU RENT:

Name, address and phone number of landlords for the past 24 months.

IF YOU ARE BUYING A HOME:

Purchase contract and all amendments.

If a source of your down payment is a gift:

Name, address and relationship of donor.

Gift funds will be verified in both the donor and recipient's accounts.

Note: Not all loan programs allow gifts to be part of your down payment.

For Construction/Perm Loan:

Signed construction contract with cost breakdown, builder plan and specifications.