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What to Bring for a Home Loan Application

To make the loan process go quickly and smoothly, bring the following to the loan appointment (if applicable).

  • Residence addresses for the past two (2) years.
  • Past two years' W-2 statements or 1099's.
  • Computer generated paycheck stubs for last 30 days.
  • Names, addresses and phone numbers of Employers for past two (2) years.
  • Past two (2) month's statements for all Checking, Savings, IRAs, 401Ks, Money Markets, Profit Sharing and evidence of Stocks and Bonds. Document all recent large deposits.
  • In income received for commissions, bonuses, partnership(s), corporation(s), or if self-employed, requires two (2) year's Personal Federal Tax Returns with all Schedules along with a current P&L Statement and Business Balance Sheets and past two (2) years' Partnership and/or Corporate Returns, if applicable.

Home Documents

  • Cancelled checks from rent or mortgage for the last 12 months, and name and address of any landlord(s) within the last 12 months.
  • Names, addresses, account numbers, monthly payments and balances on all open loans and revolving credit accounts.
  • Copy of Bankruptcy Petition listing all creditors and copy of Bankruptcy Discharge Papers (if applicable). Please provide letter of explanation as to why the Bankruptcy occurred.
  • Copy of Driver's License and Social Security Card (VA Loans Only).
  • Certificate of Eligibility and DD214 Discharge Paper (VA Loans Only).
  • Application fee (check or money order).
  • Copy of divorce decree and/or separation agreement.
  • A "Friend of the Court" letter stating the amount of any alimony/child support payments and notification that the account is current.
  • 1040 tax forms (if you're self-employed) for the past two years, 1120 Corporate Tax Returns (or Form 1065 for Partnerships) for the previous two years, year-to-date profit-and-loss statement and balance sheet signed by your accountant.
  • 1040 tax forms for the past two years (including schedules) if you own income properties or if your income is based on commission or bonuses.    Source: RealLiving.com

For more information on home buying, contact Christina today!

Christina Asad Edwards, REALTOR
Christina.Asad@RealLiving.com
www.DaytonOhioHouse.com
mobile or text 937-205-4741 office 937-573-0082  
Real Living Realty - #1 in OHIO!
Realty, Mortgage, Title, Relocation

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Blog article provided by Christina Cavins, a Nationally recognized Realtor with Irongate Inc. Realtors. Christina can be reached via email at ChristinaCavins@aol.com or by cell phone or text message at 1-937-205-4741. For Ohio real estate and homes see Ohio Real Estate.

 

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Comment balloon 1 commentChristina Cavins • April 09 2009 09:56AM

Comments

Great Post. Buyers sometimes whine about the loan dragging on. In reality most of the time it was their own fault.

Posted by Terry Miller, Miller Homes Group and Tyler Apartment Locator (Miller Homes Group) about 9 years ago

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