Consumer Services
Information Needed for Loan Application
Basically the lender is looking for the most recent 2 year "snapshot" of your life. This includes places of employment, residency and assets as follows:
Income:
1. Pay stub dated within 30 days covering at least a 30 day period. If income is from social security or retirement, provide copy of award letter or pension statement.
2. W-2s for the past 2 years. Complete tax returns may be required if you are self-employed and/or claim rental or investment income.
3. Names and addresses of all employers for the past 2 years.
4. Residence addresses for the past 2 years. If you were renting, you should be able to provide name and address of landlord.
5. If you pay or receive child support, alimony or separate maintenance provide copy of divorce decree or court order showing order of payment. Please note in order for child support, alimony or separate maintenance payments to be counted as income, it must be continuing for a minimum of 3 years.Assets:
1. Bank statements to cover the most recent 2 months. Make sure to provide all pages. If assets are in a retirement or investment account, provide most recent 2 months statements unless it is quarterly, then provide most recent quarterly statement.
2. If you are receiving a gift for your down payment and/or closing costs, be prepared to provide the name, address & phone number of the gift donor. Further documentation may be required later in the form of a gift letter.
Credit:
1. If you have previously filed for bankruptcy be prepared to provide a copy of your bankruptcy discharge paperwork including the discharge notice and list of creditors.
2. If you have collection accounts that have been previously paid, you will need to provide proof of payment.
If you can't find what you're looking for here, please or call 800-261-SOLD (7653) with any questions you might have.
