What you need to get ready before applying for a mortgage loan – Bench Financial Group, Inc

Loan Application Checklist

In general, the documentation you will need includes:

Property Information (If you are purchasing a home/selling yours)

Purchase Agreement.

If you are selling your current home, copy of listing contract.

If you have recently sold your current home, copy of settlement statement.

Income & Assets

2 most current paystubs (to cover a 30 day period)

For the past two years:

	Names and addresses of each employer.
	W-2s

Statements for each bank, mutual fund, and/or investment account for the last two months. (please include all pages, front & back)

If you have made any large deposits to your accounts (larger than 5,000):

Explanation and source for deposit.

If large deposit was a gift:

	Signed gift letter (lender can supply).
	Copy of gift check.
	Copy of deposit receipt.

If you own more than 25% of a business:

Corporate or partnership tax returns.

If self-employed:

	Tax returns for the last two years (with all schedules).
	Name and phone number of your certified public accountant.

If you own rental property:

Copies of current rental agreements.

If you are retired:

Pension Award Letter.

If you receive Social Security:

Social Security Award Letter.

If you are counting child support as income:

	Copy of divorce settlement.
	Copy of twelve months of cancelled child support checks.

Debts

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens. (ask lender about inquiries)
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.

Name and phone number of your home owners insurance company & agent.

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.

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