To apply for a loan, you will have to provide the lender with detailed documentation of your financial history. The lender will request a credit report from a credit agency and will verify the information provided in your loan application. Be prepared to give your lender:
- Social Security numbers for both you and any co-borrowers
- Copies of checking and savings accounts statements for the past two months, all pages even if blank.
- Evidence of any other assets such as bonds, stocks, or money saved in retirement programs (i.e. 401k or 403b program), all pages even if blank.
- Recent paycheck stubs for last 30 days
- W-2 withholding forms and income tax returns for the past two years to verify your income and proof of employment if you are self employed, over 25% of your income is bonus or you have rental income you wish to claim.
- Residence history for the past two years. If you have rented, name & number of Property Manager or 12 months cancelled checks
- Sales contract and all addendums and disclosures for the purchase of a new home.
- Homeowner's association information with contact information.
- Name and # of Homeowner's Insurance information, either current or proposed
- Copy of Driver's License and Passport for all parties on loan application. Social Security Card may be supplemented for Passport