Loan Applications: What You Need

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Loan Applications: What You Need

The following is a list of details your lender may ask for in the mortgage application process:


3 months’ bank statements on all accounts, including 401k

Copy of HUD1 Settlement Statement on recent sales of homes

Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt

Landlord’s name, address, and phone number

Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens

Copy of bankruptcy papers filed within the last seven years

Copy of Social Security Card and driver’s license

Last two years’ W2 forms

Most recent pay stubs covering a 30 day period

Federal tax returns (1040’s) for the last two years, if you are self-employed; earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own rental property; or you take non-reimbursed business expenses.

Year-to-Date Profit and Loss Statement (for self employed)

Corporate or Partnership tax returns (if you own more than 25% of a business)

Copy of purchase agreement (if you have already made an offer)

Receipt for child support payments

Copy of Divorce Settlement

Getting pre-approved for a mortgage prior to home shopping is a smart idea.  The next step is to find a Buyer's Agent.  Please don't hesitate to contact me when you are ready.