Loan Application Checklist
The following information is typically needed when applying for a mortgage.
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Copy of the sales contract
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Mailing address and property description |
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Contact information for access to the property |
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Plans and specifications (new construction only) |
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Social Security number |
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Age |
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Years of schooling |
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Marital status |
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Number and ages of dependents |
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Current address and telephone numbers |
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Addresses for the past seven years |
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Current housing expenses (rent, mortgage, insurance, taxes) |
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Name and address of landlord or mortgage holder for past two years |
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Two years of employment history, with complete details of each job |
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Recent pay stubs and two years ofW-2 forms |
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Complete tax returns and financial statements if self-employed |
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Written explanation of employment gaps |
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Records of dividends and interest received |
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Proof of other income |
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Complete information on all bank and money market accounts
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Two months of bank statements |
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Current values of stocks, bonds, mutual funds and other investments |
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Vested interest in retirement funds |
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Value of life insurance |
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Information on vehicles you own |
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Information on real estate you own |
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Value of significant personal property you own |
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Itemized list of all current debts (loans, credit cards and other bills)
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Written explanation of past credit problems |
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Full details of bankruptcy during the last seven years |
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Credit report and appraisal fees (usually $500 or less) |
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Compare Step 3 and Step 4 Totals. The Total Monthly Estimated Housing Expenses (Step 4) should not exceed the Amount Available for Monthly Estimated Housing Expenses (Step 3),
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