Future home buyers ever wonder what you need to complete a loan application and what to bring? Listed below are the items necessary along with your loan application.
The following is a list of documents needed to process your loan request:
• Federal Tax Returns: 2010 & 2011 for each borrower (all schedules & amendments)
• W2 forms: 2010 & 2011 for each borrower
• If self-employed: 2010 & 2011 personal & corporate 1040 tax returns (all pages & schedules required)
• Pay stubs: One month of your most recent for each borrower
• Assets: last 2 months of bank statements for checking/savings, IRA, 401K, stock/bond accounts (include all pages of each statement)
• Driver’s License: copy of the most recent & valid driver’s licenses for each borrower
• Social Security Card: copy for each borrower
• Rental History: 12 months canceled checks (if applicable)
If Real Estate is already Owned or Refinancing:
• Insurance: Homeowner's & Flood (if applicable) insurance (declarations page)
• Mortgage Statement: Most recent mortgage statement for all liens (must include account number & customer service telephone number)
• Deed: Copy of property deed (Florida properties require a copy of the existing survey)
If purchasing, the following is needed after you have an executed contract:
• Insurance: Homeowner's & Flood (if applicable) insurance (declarations page)
• Purchase Contract: copy of the contract signed by both parties
• Proof of Deposit: copy of check, money order, or signed note verifying cash delivery
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