Loan Application checklist needed for a mortgage broker, loan officer or lender to process your paperwork and pre-approve you for a home loan to purchase a house or condo in Southern California.
General:
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Picture ID and Social Security Number
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Payment to cover application fee.
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Name and complete address of all landlords (past 2 years).
Income Documentation for the Lender: bring copies of the following documents
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Employment history, including names, addresses, phone numbers, and length of time with that company (past 2 years).
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Copies of your most recent pay stubs and W-2 form (past 2 years).
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Verification of other income (social security, child support, retirement).
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If you are self-employed: Copies of signed tax returns including all schedules (past 2 years), and a signed profit and loss statement of the current year.
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If you are retired: Tax returns (past 2 years).
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If you have rental property income: Copies of all lease agreements.
Assets:
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Copies of all bank statements from checking/savings accounts (past 3 months).
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Copies of all stock/bond certificates and/or past statements/retirement accounts.
Creditors: who do you owe bills too?
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Credit cards (account numbers, current balances, and monthly payments).
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Installment loans (car, student, etc.) Same details as for credit cards.
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Mortgage loans (property address, lender with address, account numbers monthly payment and balance owed on all properties presently owned or sold within the last 2 years).
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Childcare expense/support (name, address, phone number).
Other Documents:
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Bankruptcy bring discharge and schedule of creditors
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Adverse or bad credit issues bring letters of explanation.
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Divorce bring your Divorce Decrees, property settlements, quitclaim deeds, modifications, etc.
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VA only bring Form DD214 and Certificate of Eligibility.
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Retirees bring retirement and/or Social Security Award Letter.
Know Your Options
We will have a local lender give you a call and discuss loan options with you. You can make an appointment to meet with them in person and learn how much of a loan your qualify for and what your payments will be. It is always good to be wise and know your options.
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Loan Topics to Consider Reading About:
- Learn about Being Pre-Approved for a Home Loan Before You Start Viewing Homes
- 14 Questions to Ask Every Lender
- How to Choose a Mortgage Professional
- Free Home Buyer Consultation from our Real Estate Team
