Mortgage Checklist
Check out our mortgage checklist!
Our mortgage checklist will help you understand the requirements necessary for a loan application.
The following information is usually required during the loan process:
1) Personal Information
- Your Social Security number
- Date of birth
- Marital status
- Number and age of dependents
- Current address and telephone number
- Address fro past two years (if more than one)
- Current housing expenses (rent, mortgage, insurance and taxes)
- Years of schooling
2) Identification
- Driver's license
- Social Security card
3) Employment History and Income
- Two years of employment history
- Recent 30 day's worth of paystubs and 2 years of W-2 forms
- If self employed, completed personal and corporate tax returns with current profit and loss statement
- Proof of other income (award letters for social security, retirement, pension or military retirement)
4) Assets
- Current 2 months' statements for bank accounts
- Current statements for stocks, mutual funds, and other investments
5) Liabilities and Debts
- Itemized list of all current debts: loans, credit cards, child support payments, 401k loans and any other bills
- Written explanation of any past credit problems
- Full details of bankruptcy during the last 7 years, if applicable
6) Real Estate Information
- Address of property
- Market value
- Copies of leases on rental property
7) Purchase Transaction
- Fully-executed sales contract/purchase agreement, with all addendums
8) Additional Items Needed
- Copy of divorce decree, which should include property settlement statement and order of child support
- Complete bankruptcy papers, discharge notice of any other supporting documents (if bankruptcy, occurred in the last 7 years)
If you feel overwhelmed, don't be. We'll be there every step of the way to help you to ensure that the mortgage process is a smooth and easy one. Now with a better understanding of the mortgage checklist, you are ready to apply!
