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What your lending institution may expect when making your loan application
· Executed sales contract on property being purchased
· Plot survey
· If you have been a full time student for the past two years, provide a copy of your school transcripts or diploma.
· If you are self employed, commissioned or using rental income to qualify, provide complete and signed personal and business tax returns for the past two years.
· Year-to-date signed profit and loss , if self employed
· Copy of rental or lease agreements on all rental properties owned.
· Three most recent pay stubs from employer with year-to-date for each borrower
· Copy of the last three statements on all asset accounts, banks, stocks, etc.
· Copy of loan payment coupons
· Copy of last charge account statements with balances, names, addresses and account numbers
· Copy of divorce or separation agreement in full when declaring income or debt from such agreement
· Names, addresses and account numbers for any mortgage company or landlord for previous two years
· Names and phone numbers of both listing and selling agents
· Copy of listing and/or contract on any properties currently for sale
Purchasers applying for a VA loan also should provide the following information:
Original certificate of eligibility-from VA • Copy of separation papers-VA from DD214 Statement of service-from commanding officer • Copy of transfer orders, if applicable
Finally, bring a checkbook to pay for your credit report and appraisal fees, which are usually collected at application.
Welcome to your new home!