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USEFUL MORTGAGE INFORMATION
Here are some things you will need to make a Mortgage Loan Application:
. The Purchase Agreement and any other addenda signed by all parties, the legal description of the property, and the amount of the annual real estate taxes
. Fees for appraisal and credit report (take your checkbook!)
. Your residential address for the past two years, your social security card, a photo ID and your home phone number
. The names and addresses of your landlord and/or current mortgage holder (including the loan number) for your your current and any previous landlords within the last two years
. Deposits (with sources), account numbers, balances and past three checking or savings account statements
. The value of any real and personal property you own, stocks and bonds, tax refunds, any notes due, retirement programs and the cash value of your life insurance
. A gift letter (if applicable) listing the donor, the amount and the purpose of the gift as well as the source of donor funds
. Any personal and cosigned installment loans and revolving charges (with account numbers, balances, and monthly payments)
. Alimony, child support, and separate maintenance payments (with agreements, decrees and cancelled checks)
. Explanation of any credit problems (with documentation) such as a full schedule of bankruptcy filed, a discharge of bankruptcy, paid collections and judgements
. Your two year employment history, with employer names, addresses, phone numbers and contact persons
. W-2 and 1099 forms for the past two years and pay stubs covering the past 30 days
. Signed tax returns and all schedules, an income & expense statement, and balance sheets for the past two years plus year-to-date financial statements for self-employed purchasers and/or purchasers with investment properties
. Award letters for Social Security, pensions, trust funds or disability payments
. Documents for mortgages held, notes due, and investment property income and expenses (including copies of leases)
. Signed Purchase Agreement, signed relocation "buy-out" agreement, or any lease agreement with future tenant on your present residence
. Proof of employer reimbursed closing costs
. DD-214 and Certificate of Eligibility, if VA financing
. Name, address, and phonenumber of your attorney and your nearest relative not living with you
. An explanation for extenuating circumstances e.g., anticipated income increases, credit issues, job changes, pending lawsuits.
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