Loan Application Checklist

On May 16, 2011 by Karen

The Mortgage Lender

When applying for a loan, what are the first things a lender will ask for? Thanks to Jeff Geary, the Mortgage Lender for providing us with this list.

Loan Application Checklist
Income & Assets
Employer Name: ______________________ Contact:__________________ Phone: ______________

  • Pay Stubs for the last 30 days (most current)
  • W2’s for last 2 years

If Self Employed

  • Complete Federal Tax returns for last 2 years
  • Letter from CPA

Rental Income

  • Complete Federal Tax Returns for last 2 years
  • Current Rental Agreements

Retirement or Social Security

  • Awards Letter
  • Last 3 Bank Statements showing Deposits

Child Support

  • Court Order for Child Support / Divorce Settlement
  • Proof of Receipt for past 12 months (print out from State Agency, Bank Statements, Cancelled Checks)
  • Child(ren)’s Birth Certificate(s)

Last 2 Bank Statements – all pages (most current) – Documentation for any large deposits
Last 401K Statement – all pages (most current)
Gift Letter – Signed

  • Copy of Gift Check
  • Verification of Withdrawal from Donor’s Account
  • Verification of Deposit into Borrower’s Account (or Attorney Escrow)

Explanation of Derogatory Credit (Late Payments, Credit Inquiries, Charge-offs, Collections, Judgments)
Verification of Rent: Landlord Name:_____________________ Phone #:____________
Complete Bankruptcy Papers including Discharge Papers

Property Information
Copy of Purchase Contract
Copy of the Cancelled Earnest Money Check
Copy of Current Mortgage Statement(s)

Miscellaneous Information
Copy of Social Security Card & Drivers License
Homeowner’s Insurance Company: _______________ Agent: _____________ Phone#:__________
Other: Home Phone # _________________
Other: _________________

These are some of the first things most lenders will ask from you before they pull your credit and let you know if you can borrow and how much.

Have you started working with a lender?

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