Items Needed for a Loan Application

Personal

Address – past and present for two full years
Copies of social security cards and photo id such as driver’s license or military id

Past and present for two full years. Name of personnel supervisor, address, zip code, phone numbers, gross income, overtime, bonuses, etc.
Last 2 pay stubs showing gross monthly income and all deductions
Past 2 years income tax returns with W-2s
Proof of other income, such as pensions, retirement, disability or Social Security, income from rentals or investments and child support or alimony received, if using to qualify for the loan.

Account numbers, minimum monthly payments, approximate balances, name, address and zip codes for all credit cards and other monthly debts
The loan numbers, lender’s name, address and zip code of any existing mortgages and mortgages paid off in the past two years
If self employed:
- Two years 1040 income tax returns
- Current year profit and loss statement

Names, addresses, including zip codes, of your bank, savings and loan or credit union
Account numbers, approximate balance and last 3 months bank statements
- Include all accounts that will be used to qualify for the loan
Documentation of 401K, IRA accounts and other pension plans

If divorced, copy of the divorce decree
Proof of any payments required by decree
Certificate of eligibility and DD-214 for veterans using VA benefits
If a gift is being used for the down payment, a signed letter stating the amount, what it is to be used for and to whom the gift is being made (relationship to borrower)
- The letter should also state that it is a gift and no repayment is required
- Forms can be provided by the lender
Copy of bankruptcy petition and discharge
Copy of the purchase contract, signed by both buyer and seller, stating correct address, legal description and who is responsible for which charges.
- (For applications for pre-approval, this information will be supplied at a later date.)
Copy of lease agreement or sales contract for any currently owned property, signed by all parties.
Money for appraisal and credit report, typically $400 – $450.