Premier Realty & Financial Services

Loan Application Checklist

In general, the documentation you will need includes:

___Check for application fee

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Property Information (if you already have a contract on a house)

___Purchase Agreement.

___Copy of legal description and MLS sheet.

___If you are selling your current home, copy of listing contract.

___If you have sold your current home, copy of settlement statement (HUD-1).

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Income & Assets

___Pay stubs for the last 30 days.

For the past two years:

[ ] Names and addresses of each employer.

[ ] W-2s

___Statements for each bank, mutual fund, and/or investment account for the last 2 months.

___Estimated value of personal property.

If you have made any large deposits to your accounts:

___Explanation and source for deposit.

___If large deposit was a gift:

[ ] Signed gift letter (lender can supply).

[ ] Copy of gift check.

[ ] Copy of deposit receipt.

If you own more than 25% of a business:

[ ] Corporate or partnership tax returns.

If self-employed:

[ ] Tax returns for the last three years (with schedules).

[ ] Year-to-Date Profit and Loss Statement prepared by an accountant.

If you own rental property:

[ ] Tax returns for the last two years and current rental agreements.

If you are retired:

[ ] Pension Award Letter.

If you receive Social Security:

[ ] Social Security Award Letter.

If you are counting child support as income:

[ ] Copy of divorce settlement.

[ ] Copy of twelve months of cancelled child support checks.

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Debts

___Names, addresses, account numbers, balances and monthly payments on all current loans.

___Explanation of credit report anomalies, including:

[ ] Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.

[ ] Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

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VA Loans

___Copy of DD Form 214, Report of Separation.

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Miscellaneous

___Photo ID and proof of Social Security number.

___Residence addresses for the past two years.

___If applicable, a copy of your divorce decree.

___If you are not a citizen, a copy of the front and back of your green card.