Have These Items Ready When Applying for a Loan

Income items

W2 forms from previous two years

Most recent pay stubs from past two weeks

Federal tax refunds (1040's) for the last two years: ONLY IF

     you are self employed

     earn regular income from capital gains

     earn sizable interest income

     earn more than 25% of your income from commissions and bonuses

     own rental property

Year to date profit gain, or loss (self employment)

Corporate or partnership tax returns

Pension award letter

Asset items

Social security award letters

Bank statements from past two months

Statements on all stocks, bonds, etc.

Copy of latest 401K statement

Explanations for any large deposits or source of those funds

Copy of HUD1 settlement statements on recently sold homes, or estimated statement if home is for sale but not sold

Gift letter (maybe cash from relative)

      Bank statement from gifted

     Copy of check used to make gift

     Copy of deposit slip

Credit items

if you rent- copy of landlords name, address, and phone number.

 Explanations for any late payments, credit inquiries within last 90 days, judgements, collections, charge-offs, liens.

Copy of bankruptcy papers (within last seven years)

Copy of divorce statement (and settlement)

Copy of child support statement

FHA loans

Drivers license

Social Security Card

Copy of DD214

Copy of most recent mortgage bill

 

 

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