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Information needed for your loan
application
A. PERSONAL INFORMATION
- Full names of all purchases as
they are to appear on the title
- Social Security numbers of all
purchasers
- Present residence address for all
purchases going back two years if
they have not
resided in the present home for two years
- Home and office phone numbers
B. EMPLOYMENT INFORMATION
- Present employer name, address and
a contact person to send an
employment
verification form to
- Explanation for any gap during a
two year history
- Relocation letter for any
transfers - giving date, salary, new
location, and any relocation
benefits
- Previous employer name, address
and a contact person, going back two
years if not at
present job for two years
- Present salary, pay stub and last
3 years W-2's
- If any variable income,
commission, part time income bonus,
overtime, interest
income, etc
- If self employed, 2 years signed
federal individual and corporate, if
there is corporate,
returns. Also, a profit and loss statement and balance sheet
- Diploma or transcript if student
during the past 2 years
C. OTHER INCOME
- Rental income, copy of lease which
is current and a least one year in
length
- Alimony and child support is only
used for qualification. Copy of
divorce decree and
property settlement
- Income of ratified income notes
held
- Retirement, Social security,
disability income, copy of award
letter and latest check
showing amount of present payment
D. ASSETS
- Bank accounts: Name of bank,
address, account numbers, types of
accounts and
present balances
- Copy of 2 most recent statements
for all accounts
- Stocks and Bonds, copy of
certificates or copy of recent
(within 30 days) broker listing
the holdings
- Life insurance: Cash value, only
if being used for down payment
- Vehicles year and make value. Copy
of the title if under 4 years with
no lien
- Address and market value of real
estate. If free and clear, deed or
release, deed or
mortgage payoff
- Present home: Copy of sales
contract, settlement sheet or lease
- Gift Letter form will be provided
by the financial representative.
Donor capacity must be
verified and receipt of funds must be shown in the account
E. LIABILITIES
- Credit card account numbers and
outstanding balance and most recent
statement
- Loans: Auto, mortgage, personal,
student, etc. Name of institution
address, account
numbers, outstanding balances, monthly payment, months left on loan
- Alimony and child support: Copy of
ratified decree and property
settlement setting out
terms
F. VA LOANS
- To obtain a certificate of
eligibility you will need a DD-214
(separation of service), or if
in service, you will need statement of service signed by commanding
officer or
personnel officer
- If in the service you will need
authorization to live off base
(DD-1747 from housing
office) and transfer orders (if applicable)
G. PAYMENTS MADE AT APPLICATION
- Appraisal
- Credit Report
H. PRESENT HOME
- Listing
- Sales Contract
- Settlement Sheet (if sold within
the past year)
- Name and address of present
landlord
- Deed for refinances only |
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