The Loan Application

What Documentation is Needed?

 

What information will be needed for the application (and how it's kept private)

Any information you submit  is 100 percent, fully secure. And I never, ever share it with anyone except by permission -- that is, if you're giving us information you want us to use to get you the best loan, we use that information to tell mortgage lenders about you and convince them to loan you money. In turn, those mortgage lenders are bound by federal law to keep your information secure.

In addition to general information about you, your social security number, current address, phone number, family status, 2 year employment and assets, I will need written documentation to verify the important information for all borrowers as follows:

Valid Photo ID
Pay stubs covering the most recent 30 days
2 years W-2 statements
2 months bank statement for any Checking Accounts, Savings Accounts and CD's
Most recent statement for Retirement Accounts, Stocks, Bonds and Investment Accounts

If you're self-employed
Two years tax returns

If you have income from:
Commission
Overtime or bonus not reported on W-2 forms
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns

If divorced or separated
Complete executed divorce decree and settlement agreement

If you've sold your home but it has not closed:
A copy of the sales contract

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 h contract with original signatures of buyer and seller  

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 VA Financing
DD214 and Certificate of Eligibility

For Construction/Perm Loan
Signed construction contract with cost breakdown, builder plans and specifications