Borrower's Checklist 

List of What Lenders will Want to Verify - 

Applying for a mortgage loan sometimes requires a lot of paper work. To simplify the process, we've compiled a list of items you'll need to bring with you to the mortgage application interview. Depending upon your circumstances, you may need to bring additional documents with you, so please don't hesitate to call us if you have any questions about the application process.

If you do not have this right now - then please just get us one month's paystubs and bank statements and most recent W-2 and start getting the rest of this information together as soon as you can.

Borrower Information
Address and telephone numbers of each borrower
Previous address if less than two years at current address
Social Security number of applicant(s)
Age of applicant(s)
Age of dependent(s)
Value of assets including cars, furniture and household items


Employment/Income
Name and address of employer(s) for the past two years
Pay stub(s) for the last 60 days showing year-to-date and current period earnings
W-2 form for the previous year or two years depending on the type of loan.
If your commission, bonus, or overtime exceeds 25% of your gross pay, signed Federal Income Tax Returns for the past two years

If you are self-employed, personal and business Federal Income Tax Returns for the past two years, a year to date Profit and Loss Statement and a current Balance Sheet (if more than 120 days past the end of the business tax year).


Documentation Of Other Income
If you receive pension, disability, Social Security, or Veterans Administration benefits, Federal Income Tax Returns for the past two years, or a copy of the award letter and evidence of payments received (1099s are also acceptable.)

If you are relying on alimony or child support payments as income, a copy of the divorce decree and/or separation agreement; evidence of payments received for the past twelve months, such as canceled checks or bank statements showing the money as a separate deposit each month. (NOTE: Alimony, child support or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repaying your mortgage loan.)

If you receive rental income, a copy of the lease.

If you own two or more rental properties, your signed Federal Income Tax Return for the past two years, including Schedule E and current, signed lease for properties obtained since last tax year or where the lease was renegotiated since last tax year.

Copy of any notes receivable or trust account statements.


Bank Accounts / Investments

Checking and savings account statements-past two or three months depending on the loan program.
Most recent brokerage account statement for the past two or three months, or copies of stock certificates and/or savings bonds.
Copy of current thrift plan or retirement benefits statement (including IRAs and Keoghs)


Creditors
Credit Cards, loans and current mortgages:
Name and address of creditor, account number, monthly payment, outstanding balance.


Purchases
Copy of the sales contract and all addenda


Refinances
Copy of the deed to the property
Copy of the original HUD-1


New Construction-
Plans and specifications


Fees
Fees that are collected at the time of application include or as soon as possible:

Appraisal fee of approximately $400 - Made payable to Fry & Associates
Credit report fee of approximately $18 - Made payable to ERS