What should I bring to an application appointment?

Here’s a checklist that we send to all of our clients. I know there’s a lot here, but with almost every loan now having the need to be a full documented loan, you can never be too careful. (As my Mom used to tell me, better to be safe than sorry!)

However, if a client can’t find all of these things, we’ll still meet with them and we’ll just provide a list of all the things we’ll need after the appointment in order to move forward with the processing of their loan.

So…here you go.

Property Information

• Residence address(es) for past two (2) years. (if renting, please provide your landlords  name, address and contact phone number)

Employment Information

• Employment history for the last two (2) consecutive years. Include dates employed, and name, address and phone number of employer
• Contact number for HR

Banking and Asset Information

• Bank Statements covering the most recent 2 month period (checking, savings, money market accounts, etc…may be online statements)
• Investment account statements covering the most recent 2 months (i.e., 401k, 403b, stock portfolios)
• PERS, CD’s, other retirement accounts (may be online statements)

Income Information

• W-2’s for all employers covering 2007 and 2008.
• Current pay stub(s) verifying 30 days of income and year-to-date income, including any overtime, commission or bonus income.
• Copy of your most recent Social Security Award Letters (if applicable)
• Proof of pensions, retirement income, disability income (if applicable)
• Rental or lease agreements for all rental property (if applicable)
• Proof of child support paid and/or received (if applicable)
• Proof of alimony paid and/or received (if applicable)

If self-employed and or you receive bonus or commissions, you will also need:

• If you are self-employed or are paid commission income, provide signed copies of personal federal tax returns with all schedules for the last two (2) years
• If you are self-employed, provide a copy of Corporate or Partnership tax returns for the last two (2) years, include all schedules and signed by a company officer
• If you are self-employed, provide a copy of your Profit and Loss Financial Statement through the most recent quarter/month

Miscellaneous Information

• Life insurance cash value (documented if used as cash down payment)
• If applicant is using cash from sale of a home please provide a copy of the sales contract
• Social Security numbers for all parties
• Veterans- Certificate of Eligibility & DD-214 (if available and applicable)
• Amount of child care expenses and union dues (if applicable)
• Divorce decree (if applicable)
• Bankruptcy Discharge Paperwork (if applicable)

Up Front monies required to process your application

A form of payment for the appraisal fee (Visa or MasterCard). This fee is typically $425, but we don’t collect it we’re just doing a pre- approval.