What information will be needed for the application (and how it's kept private)
Anything you submit over our website is 100 percent, fully secure. And we never, ever share it with anyone except by permission. We use the information to get you the very best loan possible.
Here is a list of the information that will often be requested and used to consider your loan application. Many of these items, especially in regards to income items, aren't always required. However, in the essence of time, it is beneficial to have these items handy just in case they are requested. Occasionally, a borrower is uncomfortable relinquishing this information and it is sometimes possible to secure a loan without submitting some of the documentation listed below.
For all loans
Social Security Number, for borrower and co-borrower if any
For the last two years, employment dates, addresses, salary.
Current pay stubs or W-2 forms.
Check and Savings Accounts and Certificates of Deposit
Location of bank accounts, account numbers and balances;
Address of bank if out of town
Last 3 months' statements
Stocks, Bonds, and Investment Accounts
Broker's name and address, description of stocks, bonds, etc.
Last 3 months' statements or copies of stock certificates
Life Insurance Policies
Insurance company, policy number, face amount, cash value, if any
Approximate vested interest value
Copy of latest statement
Make and model of automobiles, their resale value
Market value of personal and household property
Liabilities and Other Non-Mortgage Debt
Creditors names, addresses, account numbers
Monthly payments and balances
Other income information you may need
If you're self-employed
Two years tax returns, profit and loss statements, both company and personal if separate.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
If you have income from:
You'll need two years' personal federal tax returns
If employed in family business
Personal federal income tax returns and all schedules for the past two years
If divorced or separated
Complete executed divorce decree and settlement agreement
Payment history of alimony/child support over the past 12 months, if it is a financial obligation.
If you choose to have this be considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.
If you own real estate
Name and address of all mortgage lenders for the past 24 months, account numbers, monthly payments and balances
If you've sold your home but not closed:
A copy of the sales contract
If you've sold your home, closed, and you will use the proceeds for your new down payment:
A copy of the HUD-1 Uniform Settlement Statement
If you rent
Name, address and phone number of landlords for the past 24 months
If you're buying a home
Purchase sales contract or offer to purchase and all addenda
Furnish contract with original signatures of buyer and seller
If a source of your down payment is a gift:
Name, address and relationship of donor.
Gift funds will be verified in both the donor and recipient's accounts.
Note: Not all loan programs allow gifts to be part of your down payment.
For Construction/Perm Loan
Signed construction with cost breakdown, builder plan and specifications