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.
- 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.
- 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.
- 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.