LOAN APPLICATION CHECKLIST
In general, the documentation you will need includes:
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Property Information (if you already have a contract on a house)
r Purchase Agreement.
r Copy of legal description and MLS sheet.
r If you are selling your current home, copy of listing contract.
r If you have sold your current home, copy of settlement statement (HUD-1).
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Income & Assets
r Pay stubs for the last 30 days.
For the past two years:
r Names and addresses of each employer.
r W-2s
r Statements for each bank, mutual fund, and/or investment account for the last three months.
r Estimated value of personal property and furniture.
If you have made any large deposits to your accounts:
r Explanation and source for deposit.
If large deposit was a gift:
r Signed gift letter (lender can supply).
r Copy of gift check.
r Copy of deposit receipt.
If you own more than 25% of a business:
r Corporate or partnership tax returns.
If self-employed:
r Tax returns for the last three years (with schedules).
r Year-to-Date Profit and Loss Statement prepared by an accountant.
If you own rental property:
r Tax returns for the last two years and current rental agreements.
If you are retired:
r Pension Award Letter.
If you receive Social Security:
r Social Security Award Letter.
If you are counting child support as income:
r Copy of divorce settlement.
r Copy of twelve months of cancelled child support checks.
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Debts
r Names, addresses, account numbers, balances and monthly payments on all current loans.
r Explanation of credit report anomalies, including:
r Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
r Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
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VA Loans
r Copy of DD Form 214, Report of Separation.
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Miscellaneous
r Photo ID and proof of Social Security number.
r Residence addresses for the past two years.
r If applicable, a copy of your divorce decree.
r If you are not a citizen, a copy of the front and back of your green card.
Assured Mortgage Planning @ GEM Mortgage
930 S Broadway, Suite 204-A
Santa Maria, CA 93454
Office- (805) 876-5080
Fax--- (877) 298-8465
CA-DOC #360068