Applying for a Loan

The following check list covers most of the types of information you and any co-borrower will need to supply. Some lenders have slightly different information requirements, so you should ask your lender what to bring to your initial loan interview.

• Social Security Number and Birth Date
• Paycheck – your most recent pay stub showing year-to-date earnings.
• W-2 Tax Forms – your W-2’s for the past two tax years.
• Employers – the names, addresses and telephone numbers of your employers for the past two years.
• Accounts – You will need the account number and current balance of your checking account, savings account and any other accounts that you have.
• Current Assets – Individual retirement accounts (IRA’s) certificates of deposit, stocks and bonds. If you own securities, your lender may require a current brokerage statement with name of the stock(s), amount per share, and number of shares owned.
• Personal Property – value of personal property, including life insurance face value, employee retirement accounts, furniture, cars, collections and other valuable property.
• Liabilities – for each loan, provide the lender with the name and address of each creditor and include both the monthly payment and total amount due. Liabilities would include auto loans, student loans, credit cards, and other installment debts.
• Current and Previous Addresses – If you now own a home you will need the property address, current market value, mortgage lender name, account number, current monthly mortgage payment, and outstanding balance due. If you rent, you will need the property address, name and address of the landlord, current monthly rent, and previous address/landlords, if you lived in your current rental for less than two years.
• Agreement to Purchase – If you have already completed an Agreement to Purchase on a home, bring along the signed copy of that agreement or any amendments to it, and a legal description and earnest money receipts toward that property.
• Gift Letters – if they are going to be a part of your down payment.
• If you are Self Employed– you will need the previous two years’ and current year to date Profit and Loss Statement and Balance Sheet.
• Divorced or Separated – provide a copy of the divorce decree or maintenance agreement, along with any amendments and a 12-month payment history of alimony/child support payments, if payments are provided or received and are needed to qualify.
• A student – if you do not have two years of employment history due to attending school, then school transcripts or your diploma will be needed.