What information will be needed for the application?
Here is a list of the information that will be used to consider your loan application.
For all loans:
Employment History, last two years, employment dates, addresses, salary.
Current pay stubs or W-2 forms.
Checking and Savings Accounts, most recent two months
Stocks, Bonds, and Investment Accounts, most recent quarterly
Liabilities and Other Non-Mortgage Debt: Minimum payments and balances
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.
If you have income from commission, bonus, rental property: I'll need two years' personal federal tax returns
If employed in family business: I'll need personal federal income tax returns and all schedules for the past two years
If you own other real estate
Address of property, lenders name, monthly payment and loan balance
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