MORTGAGE APPLICATION CHECKLIST
TO GET OFF TO A GOOD START WHEN YOU APPLY FOR A MORTGAGE, IT’S IMPORTANT TO BE VERY WELL ORGANIZED. THIS CHECKLIST IS AN INVALUABLE TOOL TO HELP YOU KEEP TRACK OF ALL THE DIFFERENT ITEMS YOU WILL NEED FOR YOUR LOAN APPLICATION.
PLEASE NOTE THAT NOT EVERY ITEM ON THIS LIST WILL PERTAIN TO YOUR APPLICATION.
INCOME
NAME, ADDRESS AND PHONE NUMBER OF EMPLOYERS FOR THE LAST 2 YEARS.
Ž POSITION, SALARY AND LENGTH OF EMPLOYMENT
Ž PERSON TO CONTACT
Ž MOST RECENT PAY STUBS, COVERING A 30 DAY PERIOD, SHOWING YEAR-TO-DATE INCOME.
Ž W-2’S FOR THE LAST 2 YEARS.
Ž RELOCATION AGREEMENT.
Ž AWARD LETTERS (PENSION, RETIREMENT & DISABILITY).
Ž EVIDENCE RECEIPT OF CHILD SUPPORT OR ALIMONY PAYMENTS (12 MONTH HISTORY).
IF BONUS OR COMMISSION INCOME IS MORE THAN 25% OF GROSS INCOME
Ž SIGNED COPIES OF LAST 2 YEARS’ PERSONAL TAX RETURNS WITH SCHEDULES ATTACHED.
SELF EMPLOYED OR SOLE PROPRIETOR
Ž PROFIT AND LOSS STATEMENT OF CURRENT YEAR-TO-DATE PREPARED BY YOUR CPA (MAY BE UNAUDITED).
Ž BALANCE SHEET FOR CURRENT YEAR-TO-DATE, PREPARED BY A CPA (MAY BE UNAUDITED).
Ž CORPORATE OR PARTNERSHIP RETURNS, ALONG WITH ALL SCHEDULES FOR THE PAST 2 YEARS.
Ž PERSONAL TAX RETURNS FOR THE PAST 2 YEARS.
PARTNERSHIP INCOME
Ž COMPLETE K-1’S
RESIDENCE INFORMATION
Ž ADDRESS(ES) FOR THE PAST 2 YEARS
Ž IF RENTING, LANDLORD’S NAME, ADDRESS & PHONE NUMBER.
Ž IF YOU CURRENTLY OWN A HOME, THE NAME, ADDRESS & ACCOUNT NUMBER OF LENDER, AS WELL AS CURRENT LOAN BALANCE.
Ž SALES CONTRACT, CLOSING STATEMENT, OR LISTING AGREEMENT ON YOUR PRESENT HOME.IF YOU HAVE SOLD A HOME IN THE LAST 2 YEARS, A COPY OF THE CLOSING STATEMENT AND A HUD 1 FORM.
BANKING INFORMATION
Ž BANK OR INVESTMENT ACCOUNT STATEMENTS FOR THE LAST 3 MONTHS FOR ALL ACCOUNTS.
Ž ADDRESS OF BANK OR INVESTMENT FIRM.
Ž COPY OF NOTES RECEIVABLE AND OTHER LIQUID ASSETS
Ž DOCUMENTATION ON ANY LARGE DEPOSITS, OTHER THAN PAYROLL DEPOSITS
Ž 401K, IRA AND COMPANY THRIFT PLAN STATEMENTS, COVERING THE MOST RECENT 3 MONTHS AVAILABLE, INCLUDING DOCUMENTATION OF ANY LOANS (I.E., QUARTERLY, SEMI-ANNUAL OR ANNUAL STATEMENT).
MONTHLY FINANCIAL OBLIGATIONS
Ž NAME AND ADDRESS OF CREDITORS
Ž ACCOUNT NUMBERS
Ž ESTIMATED BALANCES
Ž MONTHLY PAYMENTS
Ž COPIES OF MOST RECENT STATEMENTS
GOVERNMENT LOANS
FEDERAL HOUSING ADMINISTRATION (FHA)
Ž COPY OF DRIVER’S LICENSE
VERTERANS ADMINISTRATION LOANS (VA)
Ž CERTIFICATE OF ELIGIBILITY (ORIGINAL)
IF YOU ARE CURRENTLY ON ACTIVE DUTY
Ž DD214 (MEMBER 4 COPY)
Ž IF BEING TRANSFERRED, COPY OF ORDERS
Ž STATEMENT OF SERVICE
Ž CURRENT LEAVE AND EARNINGS STATEMENMT (LES)
Ž DOCUMENTATION ON ANY ADVANCE PAYS
CREDIT ISSUES OR BANKRUPTCY
Ž LETTER OF EXPLANATION OF CIRCUMSTANCES
Ž BANKRUPTCY DISCHARGE & DEBTORS STATEMENT
Ž INQUIRY LETTER
GIFT FUNDS
Ž GIFT LETTER (STATING FUNDS ARE A GIFT TO YOU)
Ž COPY OF GIFT CHECK
Ž PROOF OF RECEIPT OF FUNDS (DEPOSIT SLIP)
Ž PROOF THAT THE CHECK CLEARED DONOR’S ACCOUNT (CANCELLED CHECK OR BANK STATEMENT)
Ž PROOF OF DONOR’S ABILITY TO PROVIDE FUNDS
IF YOU ARE REFINANCING
Ž LEGAL DESCRIPTION OF PROPERTY (COPY OF WARRANTY OR SECURITY DEED)
Ž COPY OF CLOSING STATEMENT FROM PURCHASE (FHA OR VA LOANS ONLY)
MISCELLANEOUS
Ž FULLY EXECUTED SALES CONTRACT WITH ORIGINAL SIGNATURES FOR NEW PURCHASES (ALL ADDENDUMS TO BE INCLUDED)
Ž DIVORCE DECREE (FINAL DECREE & RECORDED SEPARATION/SUPPORT AGREEMENT)
Ž CURRENT LEASES ON ALL RENTAL PROPERTIES
Ž COPIES OF CANCELLED CHECKS FOR RENT OR MORTGAGE PAYMENTS COVERING THE LAST 12 MONTHS
Ž ANYTHING ELSE YOU FEEL IS IMPORTANT ABOUT YOUR INCOME OR ASSETS - INCLUDING THE SOURCE OF THE FUNDS YOU ARE INVESTING - THAT WILL HELP US MAKE A DECISION.