What you need to get ready before applying for a mortgage loan – James Wheeler

Loan Application Checklist

In general, we will need the following documentation - and your full cooperation - to process your loan application:

Property Information (if you already have a contract on a house)

Purchase Agreement.

Earnest money deposit, if any (check copy).

If you are selling your current home, copy of listing contract.

If you have sold your current home, copy of signed settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.

For the past two years:

	Name, address, and phone number of each employer.
	W-2s and/or 1099s

Most recent statement for each bank account, mutual fund, retirement account and/or investment account.

If you have made any large deposits to your accounts:

Explanation and source for deposit.

If large deposit was a gift:

	Signed gift letter (we can supply).
	Copy of gift check.
	Copy of deposit receipt.

If you own more than 25% of a business:

Corporate or partnership tax returns for past 2 years.

If self-employed or paid on commission:

	Tax returns for the last 2 years (with schedules).
	Information on current year-to-date figures.

If you own rental property:

Tax returns for the last 2 years and current rental agreements (if rental income needed to qualify).

If you are retired:

Pension award Letter

If you receive Social Security:

Social Security award Letter.

If you are counting child support as income:

	Copy of divorce settlement.
	Copy of 12 months of canceled child support checks.

Debts

Type and amount of any debts not on your credit report

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
	Bankruptcy filed within last seven years.

Miscellaneous

Photo ID (driver's license) and proof of Social Security number.

Residency history (address and living arrangement) for the past two years.

If recently divorced, a copy of your divorce decree.

If not a US citizen, a copy of the front and back of your green card or visa.

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James Wheeler
Senior Loan Officer Direct Phone (813) 600-3428
Toll-Free Fax (866) 854-9439

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