Information Needed at Loan Application

Property Information
• Fully Ratified Sale Contract and all Addenda
• Condominium/Homeowner’s Association Information (address & dues)

General Information
• Complete name, birth date, Social Security number, years of school of applicant/co-applicant
• Phone number and present address (if present address is less than two (2) years, need former addresses or landlord and their address to cover two (2) consecutive years
• If any judgement or bankruptcy has been filed against you, please advise and give explanations of same. For bankruptcy, bring entire petition and discharge paper.
• Source of down payment and closing costs must be disclosed
• Insurance company preference (if any), agent, address & phone number, type of policy desired
• Preferred attorney (if any)

Employment Information
• Present employer name, address, phone number, length of employment, position and salary. Same applies for co-applicant
• If you have been employed for less than two (2) years, need previous employers & addresses to cover two (2) consecutive years
• Last two (2) years W-2s and/or 1099s
• Most recent pay stubs to cover a full thirty (30) days
• Other income needed to qualify must be verified. Interests, dividends, retirement, social security, rental income, veteran’s benefits, alimony and/or child support and other resources of income.
• If you are a business partner, corporate shareholder, etc., you should bring current financial statement
• If you are self-employed, you will be required to furnish tax returns for at least two (2) years. Also, current Profit & Loss Financial Statement(s) required. If you have a 25% or greater interest in the corporation, two (2) years Corporate Tax Returns are required if income is needed to qualify.

Assets
• Earnest money deposit—copy of front/back of canceled check
• Cash on hand
• Bank accounts: Need name, branch, account number, balance and address
• Stock, bonds, etc. - need breakdown and value
• Auto(s): Need make, model and value
• Household and personal property: Need value (typically $4,000 per room)
• Real estate description and value
• Cash value of life insurance and amount in force
• Other assets such as boats, campers, etc., and value
• Vested interest in retirement fund

Liabilities
• Open accounts needed: (auto, notes to bank, finance companies, retail stores) give name, address, account number, monthly payment and balance
• Child support or alimony, if applicable (separation agreement and decrees needed)
• Paid out accounts - name, address, loan number, type of loan (FHA, VA, Conventional or Assumption), original loan amount, present balance, monthly payments and intent to sell or rent
• Previous mortgage loan(s) - name, address, type of loan, loan number, original loan amount, when disposed of
• If you have borrowed against a retirement plan, like a 401 (K), provide payment and balance information