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Loan Application Checklist
Collect the following items for your loan application:
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Last year’s W-2 form. |
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Signed and dated Federal Tax Returns (1040s) from the last
year, including all schedules. |
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Most recent pay stubs for each borrower. |
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A copy of your most recent mortgage statement (if available). |
If you are self-employed,
you will also need:
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Last year's signed and dated tax return, including all
schedules, a year-to-date Profit and Loss (P&L) Statement
that is less than 60 days old, and a current signed
Balance Sheet. |
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If you're part of a corporation or partnership, provide last
year's tax return for corporation/partnership including
form K-1, a year-to-date Profit and Loss (P&L) Statement
(less than 60 days old), and a current signed Balance
Sheet. |
Certain applicants
will need to supply additional information:
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If you receive a Social Security pension or annuity, provide
a copy of the awards letter and a copy of a recent benefit
check. |
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If you own other real estate, provide a lease/rental
agreement if applicable, and copies of property tax and
insurance bills. |
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If you receive alimony or child support, provide a copy of
the divorce decree and evidence of receipt of income for
12 months (e.g., canceled checks, deposit slips or bank
statements). |
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If you pay alimony or child support, provide a copy of your
divorce decree. |
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If you've had a bankruptcy within the last seven years,
provide a copy of your bankruptcy discharge, a copy of the
petition (including schedules A & B) and an explanation of
the circumstances. |
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If you currently pay rent, provide copies of rental payments
for the last 12 months (may include canceled checks, bank
statements, money orders, etc.) and the name and address
of your landlord for the same time period. |
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