Here is a list of some of the things you will need to make it easier to complete your application when you're applying for a loan to purchase a home.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You'll need your employer(s) name, address and phone number.
Income information for all borrowers. This includes salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular sources of income. You'll be asked for copies of the following: most recent Year-to-Date paystub for each borrower, last two years W2's for each borrower, last two years of all signed and dated federal tax returns, most current social security awards letters and/or pension awards letters.
The price of the home you are buying, and how much you'd like to borrow towards the purchase. You will be asked to provide a copy of the fully executed contract for purchase as well as a copy of the earnest money check.
The address of the property you are planning to purchase.
Bank and brokerage account information, including the institution name and current balances. You will be asked for complete copies of your most recent 2 months bank and investment statements.
If you own any real estate, we'll have some basic questions including, address, current market value, the amount you owe, the rental income you receive (if any), and what your monthly payment is. You will be asked for copies of home owners insurance, flood insurance and property tax bills for all properties owned.
Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.
Refinance Checklist
Based upon the type of refinance you are doing, some, or even most of the items on this checklist may not be necessary.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You'll need your employer(s) name, address and phone number.
Income information for all borrowers. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income. You'll be asked for copies of the following: most recent Year-to-Date paystub for each borrower, last two years W2's for each borrower, last two years of all signed and dated federal tax returns, most current social security awards letters and/or pension awards letters.
The year you purchased the property being refinanced, its original cost, current loan balance and payment amount.
Bank and brokerage account information, including the institution name and current balances.You will be asked for complete copies of your most recent 2 months bank and investment statements.
If you own any real estate (other than the property you're refinancing), we'll have some basic questions including, address, current market value, the amount you owe, the amount of rental income you receive (if any), and what your monthly payment is. You will be asked for copies of home owners insurance, flood insurance and property tax bills for all properties owned.
Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.
Second Mortgage Loans
Here is a list of some of the things you may need to apply for a second mortgage:
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You'll need your employer(s) name, address and phone number.
Income information for all borrowers. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income. You'll be asked for copies of the following: most recent Year-to-Date paystub for each borrower, last two years W2's for each borrower, last two years of all signed and dated federal tax returns, most current social security awards letters and/or pension awards letters.
The year you purchased the property being refinanced, its original cost, current loan balance and payment amount.
Bank and brokerage account information, including the institution name and current balances.You will be asked for complete copies of your most recent 2 months bank and investment statements.
If you own any real estate (other than the property you're refinancing), we'll have some basic questions including, address, current market value, the amount you owe, the amount of rental income you receive (if any), and what your monthly payment is. You will be asked for copies of home owners insurance, flood insurance and property tax bills for all properties owned.
Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.