Real Estate LoansApplication Checklist

Items Needed at Loan Application

We want to make your mortgage loan application process as smooth and quick as possible. Please bring the following items to your appointment that apply to the type of loan you will be getting and your personal situation.

All Mortgage Loans:

• Original Purchase Contract, signed by all buyers and sellers (purchase transactions)
• Original pay stub(s) covering the last 30 days, for all applicants (e.g., if you're paid twice per month, you would need to have two pay stubs. Continue to save your pay stubs until after closing)
• Original W-2 forms for the last two years, for all applicants
• Original bank statements for the past two months, for all checking and savings accounts
• Name and address of landlord for the last 24 months, if you're currently renting or have rented in the past 24 months
• Original 401(k) and IRA statements (if applicable)
• Original investment account statements for the past two months (e.g. mutual fund accounts if applicable)
• Telephone number where employment can be verified

Additional Items for FHA Loans:

• All borrowers, please bring your drivers license for us to copy
• All borrowers, please bring your Social Security card for us to copy
• Please explain the source of all deposits on the bank statements that are not from regular paychecks. We may require documentation of the deposits.
• Purchase Contract must include an Escape Clause signed by all sellers and buyers.
• Purchase Contract must include the FHA Contract Certification signed by all buyers, sellers and the real estate agent.
• Copy of signed Lead Based Paint Disclosure
• Copy of the FHA form "For Your Protection Get A Home Inspection" signed and dated the same day as the Purchase Contract

Additional Items for VA Loans:

• VA Certificate of Eligibility
• Form DD-214 or, for in-service veterans, Statement of Service
• Most recent Leave and Earnings Statements (in-service veterans only)

Items for Refinancing your Loan:

• Current mortgage balances (1st - 2nd - 3rd)
• Property tax amount and legal description
• Homeowners and flood insurance declarations page

Additional Items for a NIFA Loan:

• We will need to verify income for all adults residing in the home (even if they will not be on the loan) so please provide name, address and phone number for the past two years of all employers.
• We need tax returns for all adult occupants for the past three years including W-2's). If you do not have copies, you will need to call the IRS (800-829-1040) and ask for a #1722 statement - computer generated transcript.

Self Employed or have Commissions or Bonus Income:

• Copies of your signed personal and business income tax returns for the past two years
• Year to date Profit and Loss Statement and Balance Sheet (if self-employed)

If You've Been Divorced:

• Complete signed copy of all divorce decrees, including property settlement, stipulations or modifications
• Most recent twelve month history of any child support payments
• If you want to use child support or alimony income to qualify, we would require proof that it will continue for at least three years.

If You've Declared Bankruptcy in the Last Seven Years:

• Copy of the Petition/Decree, Schedule of Creditors and copy of Discharge
• Please write a letter of explanation on why you filed for bankruptcy

Miscellaneous:

• If you've graduated from high school or college during the past two years, please enclose a copy of your diploma.
• If during the past two years you have a gap in your employment of 30 days or more, please enclose a letter explaining the reason for the gap in employment.
• If you are selling your present home, you'll need to provide us with a copy of your signed HUD-1 Settlement Statement showing the amount of proceeds (if the sale of your home is not yet complete, please provide us with your Realtor's "Estimate of Proceeds".
• If you have rental property, we'll need a copy of your current lease and copies of your signed federal income tax returns from the past two years.
• If you're receiving a "gift" for part of your down payment, do not deposit the gift funds until you visit with your Mortgage Loan Officer.
• If your employer is relocating you, please provide a copy of your company's relocation policy.