Mortgage loan checklist
Hi,
We hope you had a great weekend. Today we are going to add one more installment to the loan aspect of purchasing a home. When you apply for a loan, there are many things that the lender will ask for. The following is a basic outline. Not all items may be requested by your lender, but this list will help you prepare.
Sales contract on the purchase of your new home.
Copy of the certified closing statement on your present home if applicable.
Copy of Social Security card and Driver's license (for FHA loans)
Your employment history, including:
Employers and address for the last two years
Two years of most recent w-2's
Two years of most recent tax returns with all schedules
If you are self employed: current balance sheet and year to date P+L
Residence history:
Two years most recent residences
If renting, name of landlord and address
Financial:
Names and addresses of each financial institution
All account numbers
Most recent three months bank statements for all accounts
All current balances and values
Loans and credit cards:
Creditor's names and addresses, account numbers, current balances, monthly payments, and number of months remaining
Current Real Estate:
Property addresses
Estimated market values, and outstanding loan balances
Monthly payments, and if applicable, monthly rental income
Personal Property
Year, make and value of any autos
Net value of any life insurance policies
Approximate value of furniture and other personal property
Additional documentation if applicable:
Divorce papers, child support documentation (paying or receiving)
For VA loans: Certificate of eligibility and DD214
We feel that the better prepared and educated you are, the easier any home purchase will be. We hope that you will contact us for assistance in your next home purchase.
Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix Area Real Estate Source
480-483-3333
info@WeAreAZRealEstate.com