Loan Aps: What You Need
FIRST THING-- BE SURE YOU APPLY WITH A REPUTABLE LENDER! IF YOU USE A ONLINE LENDER BE SURE YOU HAVE DONE YOUR HOMEWORK ON THEM!
l 3 months’ bank statements on all accounts, including 401k
l Copy of HUD1 Settlement Statement on recent sales of homes
l Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt
l Landlord’s name, address, and phone number
l Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens
l Copy of bankruptcy papers filed within the last seven years
l Copy of Social Security Card and driver’s license
l Last two years’ W2 forms
l Most recent pay stubs covering a 30 day period
l Federal tax returns (1040’s) for the last two years, if:
you are self-employed; earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own rental property; or you take non-reimbursed business expenses.
l Year-to-Date Profit and Loss Statement (for self employed)
l Corporate or Partnership tax returns (if you own more than 25% of a business)
l Copy of purchase agreement (if you have already made an offer)
l Receipt for child support payments
l Copy of Divorce Settlement