Make no mistake, there’s a lot involved in getting a mortgage loan. You wouldn’t be here on our website if you could fill out a one-page application and get the best loan for you funded the same day.
Use this checklist as general guideline to assist you when you apply for a home loan.
Mortgage Loan Application Checklist
|In general, the documentation you will need includes:
|Check for application fee
|Property Information (if you already have a contract on a house)
|Purchase Contract. (Regional Sales contract & Addendums)
|Copy of legal description (Public Records) and MLS sheet.
|If you are selling your current home, copy of listing contract.
|If you have sold your current home, copy of settlement statement (HUD-1).
Income & Assets
|Pay stubs for the last 30 days.
|For the past two years:
|Statements for each bank, mutual fund, and/or investment account for the last three months.
|Estimated value of personal property and furniture.
|If you have made any large deposits to your accounts:
|If you own more than 25% of a business:
|If you own rental property:
|If you are retired:
|If you receive Social Security:
|If you are counting child support as income:
|Names, addresses, account numbers, balances and monthly payments on all current loans.
|Explanation of credit report anomalies, including:
|Copy of DD Form 214, Report of Separation.
|Photo ID and proof of Social Security number.
|Residence addresses for the past two years.
|If applicable, a copy of your divorce decree.
|If you are not a citizen, a copy of the front and back of your green card.
Hopefully, this checklist can assist you with gathering the necessary information you need for your loan application and help make the mortgage process smoother for you.
Nance & Associates, Realtors would be happy to assist you with you home buying process.
Our Real estate Agency has been helping home buyer and sellers in the Fredericksburg VA Area since 2002.