Loan Application Checklist

New Home Purchase or Refinance

In general, the documentation you will need includes:
Check for appraisal fee.
Property Information if this is a Purchase Mortgage (if you already have a contract on a house)
Purchase Agreement.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.
For the past two years:

 Names and addresses of each employer.

W-2s
Statements for each bank, mutual fund, and/or investment account for the last three months.
Estimated value of personal property and furniture.
  If you have made any large deposits to your accounts:
 

Explanation and source for deposit.

 If large deposit was a gift:
 

Signed gift letter (lender can supply).

 Copy of gift check.

 Copy of deposit receipt.
  If you own more than 25% of a business:
 

Corporate or partnership tax returns.
  If self-employed:
 

Tax returns for the last three years (with schedules).

 Year-to-Date Profit and Loss Statement prepared by an accountant.
  If you own rental property:
 

Tax returns for the last two years and current rental agreements.
  If you are retired:
 

Pension Award Letter.
  If you receive Social Security:
 

Social Security Award Letter.
  If you are counting child support as income:
 

Copy of divorce settlement.

 Copy of twelve months of cancelled child support checks.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
 

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.

 Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
 

Miscellaneous

Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.

 

 

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:

Your Question
Question:

Note: Fields with an * are required

Purchase or Refinance
FHA, VA, and Conventional Programs

                           


Home Savings of America 100 West Road Suite 300 Towson, Maryland 21204-2331
Phone: Toll Free Phone: Fax:

General Guidelines | Map & Directions to us | Home Page | Call, Fax or Email | Request Email UpDates | Residential Programs | Borrower's Rights | Terms of Web Site | Career Opportunities | We Can Help | FDIC - FHA - Equal Housing Opportunity | Home | Loan App Checklist | Get Your Loan Faster! | Fixed Vs. Adjustable | Loan Application Info | Mortgage Calculators | Our Service Area | Disputing Credit Reports | Government Loan Programs | HUD-1 Settlement Statement | Debt-to-Income Ratios

Copyright © 2010 Home Savings of America
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map