Information Needed for a Mortgage Loan Application
Here is a list of information mortgage lenders will use to consider your loan application.
For all loans
Social Security Number, for borrower and
Employment History
For the last two years, employment dates, addresses, salary.
Current pay stubs or W-2 forms.
Check and Savings Accounts and Certificates of Deposit
Location of bank accounts, account numbers
Address of bank if out of town
Last 3 months' statements
Stocks, Bonds, and Investment Accounts
Broker's name and address, description of stocks, bonds, etc.
Last 3 months' statements or copies of stock certificates
Life Insurance Policies
Insurance company, policy number, face amount, cash value, if any
Retirement Plan
Approximate vested interest value
Copy of latest statement
Automobiles
Make and model of automobiles, their resale value
Other Assets
Liabilities and Other Non-Mortgage Debt
Creditors names, addresses, account numbers
Monthly payments and balances
Other income information you may need
If you're self-employed
Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
If you have income from:
Commission
Overtime
Bonus
Partnership
Rental Property
Trust
Notes Receivable
Interest/Dividends
You'll need two years' personal federal tax returns
If employed in
Personal federal income tax returns and all schedules for the past two years
If divorced or separated
Complete executed divorce decree and settlement agreement
Payment history of alimony/child support over the past 12 months, if it is a financial obligation.
If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.
If you own real estate
Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances
If you've sold your home but not closed:
A copy of the sales contract
If you've sold your home, closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement
If you rent
Name, address and phone number of landlords for the past 24 months
If you're buying a home
Purchase sales contract or offer to purchase and all addenda
Furnish contract with original signatures of buyer and seller
If a source of your down payment is a gift:
Name, address and relationship of
Gift funds will be verified in both the donor and recipient's accounts.
Note: Not all loan programs allow gifts to be part of your down payment.
For FHA Financing
Evidence of Social Security Number and photo identification
For VA Financing
DD214 and Certificate of Eligibility
For Construction/Perm Loan
Signed construction with cost breakdown, builder plan