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Tyson Properties, Inc.

Loan Application Checklist

Here is a list of documents required to process a mortgage application. Having these items on hand when you visit the lender will help speed up the application process.

Income Verification

  • Earnings statements: W-2 forms, recent pay stubs and tax returns for the past two years.
  • If you are self-employed: profit and loss statements and tax returns for current year and previous two years.
  • Additional income: social security, overtime bonus, commission, interest income, veteran's benefits and so on.

Asset Verification

  • List of bank account numbers, the address of your bank branch, checking and savings account statements for the previous 2-3 months.
  • List of savings bonds, stocks or investments and their approximate market values.
  • Copies of titles to any motor vehicles that are paid in full.

Purchase Information

  • Copy of the ratified purchase contract.
  • If you made a deposit to the seller to show that you are serious about buying the house, bring a copy of canceled deposit check on house.

Debts and Money Owed

  • Credit card bills for the past few billing periods.
  • Other consumer debt such as car loans, furniture loans, student loans and other personal and cosigned installment loans with creditor addresses and phone numbers.
  • Evidence of mortgage and/or rental payments.
  • Copies of alimony or child support.
  • If you have no established credit history, supply the lender with canceled checks for rent, utilities and other recurring obligations to show payment history and amount of revolving debt.
  • Lenders may also ask you about the origin of your down payment. If money for down payment is a gift from a relative, bring to the interview a copy of gift letter and copy of gift check. The gift letter states that the money will not have to be repaid.