Gathering the following required items will make it easier to complete your home loan application:
Your current residence address, or addresses, for the past two years
Social Security numbers for all borrowers
Your employment history for the past two years, including employer name(s), address and phone number
Income information for all borrowers, including salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income
The price of the home you planning to purchase and how much you would like to borrow toward the purchase
The address of the property you are purchasing. A copy of your Purchase Contract will be needed after you have submitted your application.
Bank and brokerage account information, including the institution name and current balances
Basic information about any real estate you own, including address, current market value, amount you owe, any rental income you receive, and monthly payment amount.
Information about your current debts, including the name of the creditor, the account number, the current balance owed and monthly payment amount.
Refinance Checklist
Based upon the type of refinance you are doing, some, or even most of the items on this checklist may not be necessary.
Your current residence address, or addresses, for the past two years.
Social security numbers for all borrowers.
Your employment history for the past two years. You'll need your employer(s) name, address and phone number.
Income information for all borrowers. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income.
The year you purchased the property being refinanced, its original cost, current loan balance and payment amount.
Bank and brokerage account information, including the institution name and current balances.
If you own any real estate (other than the property you're refinancing), we'll have some basic questions including, address, current market value, the amount you owe, the amount of rental income you receive (if any), and the amount of your monthly payment.
Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.
VA Checklist
The following documents need to be collected and used in filling out the application.
Certificate of Eligibility Will give the dollar value of the veterans 'Entitlement'. In the absence of this information, the default should be the 'Maximum Entitlement' - $36,000 for loans up to $144,000 and $50,750 for loans over $144,000.
Pay Slip - Will provide information to fill out the income and tax fields for VA applicants.
Property Tax Statement - Can be used to state the monthly property taxes. A defaulted value will be given which can be overridden.
Property Insurance Bill - Can be used to state the monthly insurance. A defaulted value will be given which can be over-ridden.