Home Loan Process: Documentation
Applying for a home loan will require you to submit several pieces of information to give me a clear picture of your financial history – both past and present. Anything you submit through my online application is 100% secure. I never share your personal information with anyone, except with permission.
For example, if you give me information that you’ll want me to use to help you qualify for a great home loan option, I use that information to tell lenders about you and convince them to loan you money. In turn, those lenders are bound by federal law to keep your information confidential and secure.
Here is a list of common items and information that are required to obtain financing. These items help verify the information on your application and are required to make a credit decision. Submit the following items with your application as soon as possible to help expedite the home loan process:
All Loans
The following is a list of documentation needed for all home loans: Social Security Number for Borrower and Co-Borrower
Employment History
- Current pay stubs or W-2 forms for the last two years
- Employment dates, addresses, and salary
Checking and Savings Accounts / Certificates of Deposit
- Location of bank accounts, account numbers, and balances
- Address of bank, if out of town
- Last 3 months of statements
Stocks, Bonds, and Investment Accounts
- Broker’s name and address
- Description of stocks, bonds, etc.
- Last 3 months of statements or copies of stock certificates
Life Insurance Policies
- Insurance company, policy number, face amount, and cash value, if any
Retirement Plan
- Approximate vested interest value
- Copy of latest statement
Automobiles
- Make and model of automobiles, including resale value
Other Assets
- Market value of personal and household property
Liabilities and Other Non-Mortgage Debt
- Creditor names, addresses, account numbers
- Monthly payments and balances
Other Income Information If You’re Self-Employed:
- Two years of 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
If You Have Income From*:
- Commission
- Overtime
- Bonus
- Partnership
- Rental Property
- Trust
- Notes Receivable
- Interest/Dividends
*NOTE: You will need to provide two years of personal federal tax returns.
If Employed in Family Business:
- Personal federal income tax returns
- All schedules for the past two years
If Divorced or Separated:
- Complete executed divorce decree and settlement agreement
- Payment history of alimony/child support over the past 12 months, if a financial obligation
- Provide 12 months of canceled checks or bank statements reflecting income deposits (if you choose to have this be considered as part of your income)
Real Estate
If You Own Real Estate:
- Name and address of all lenders for the past 24 months, account numbers, monthly payments, and balances
If You’ve Sold Your Home But Not Closed:
- Copy of the sales contract
If You’ve Sold Your Home, Closed, and You Will Use the Proceeds for Your New Down Payment:
- Copy of the HUD-1 Uniform Settlement Statement
Renters
Name, address, and phone number of landlords for the past 24 months
Purchasing A Home
If a Source of You’re Purchasing a Home: ??????????????????
- Purchase sales contract or offer to purchase and all addenda
- Furnish contract with original signatures of buyer and seller
If a Source of Your Down Payment is a Gift*:
- Name, address, and relationship to donor
*NOTE: Gift funds will be verified in both the donor and recipient’s accounts. Not all loan programs allow gifts to be part of your down payment.
For FHA Financing:
- Evidence of Social Security Number and photo identification
For VA Financing:
- DD214 and Certificate of Eligibility
For Construction/Perm Loan
- Signed construction with cost breakdown, builder plan, and specifications
Have more questions about the application process? Contact Me
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Learn more about the Home Loan Application Process