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. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income.
The price of the home you are buying, and how much you'd like to borrow toward the purchase.
The address of the property you are planning to purchase.
Bank and brokerage account information, including the institution name and current balances.
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.
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.
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.
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.
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.
VA Checklist
The following documents need to be collected and used in filling out the application.
Certificate of Eligibility – Will give the dollar value of the veterans 'Entitlement'. In the absence of this information, the default should be the 'Maximum Entitlement' - $36,000 for loans up to $144,000 and $50,750 for loans over $144,000.
Pay Slip - Will provide information to fill out the income and tax fields for VA applicants.
Property Tax Statement - Can be used to state the monthly property taxes. A defaulted value will be given which can be overridden.
Property Insurance Bill - Can be used to state the monthly insurance. A defaulted value will be given which can be over-ridden.
Second Mortgage Loans
Here is a list of some of the things you may need to apply for a second mortgage.
1. Your current residence address, or addresses, for the past two years.