Documents Needed To Complete A Loan Application (Purchase)
1. Purchase agreement and all addenda’s from your Realtor.
2. Listing agreements from your Realtor, if available.
3. Names and phone numbers of listing and selling Realtors.
4. Last three months bank statements (all accounts).
5. Last statement on money market, 401k, stocks, etc.
6. Last pay stubs on each borrower (include to one full month).
7. Tax Returns (1040’s & W-2’s) for the two most recent tax years.
8. List or statements on any account you pay monthly showing account number, payment and balance.
9. If you currently own a home: name, address, account number of the mortgage company or contract for deed holder.
10. If you are selling your home: a copy of the purchase agreement for selling your property with a net proceeds statement from your Realtor.
11. If you have not sold your home: a copy of the listing agreement and the last statement form your mortgage company.
If any of the following is applicable to you, the following documents are needed:
1. If you have rented in the last two years, the name and address of your landlord.
2. If you have less than two years on your current job; the name and address of your previous employer’s.
3. Divorce decree, child support judgement if income will be used to qualify.
4. Social Security award letter or disability award letter or retirement fund letter.
5. If you own rental property: last two years of tax returns, all schedules, with W2’s and 1099’s and copies of leases, list of current value, address, name and address of lender.
6. If self-employed (or more than 25% owner): the last two years of tax statement, year to date profit and loss (income/expense) statement and a balance sheet. Include all schedules, K 1’s 1099’s and W2’s. Change in financial position statement from your account. If a corporation: last two years of all returns each corporation partnership you own with all K 1’s W2’s and all schedules.