Loan Application Checklist

In general, the documentation you will need includes:
Be prepared to pay the cost of an appraisal, after you've given us your intent to proceed with a mortgage loan. (Normal appraisal costs are typically between $475-$600, depending on the property and appraisal requirements.)

Property Information (if you already have a contract on a house)
Purchase Agreement/Real Estate Contract.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days, for all borrowers.
  For the past two years:

Names and addresses of each employer.

Statements for each bank, mutual fund, and/or investment account for the last three months.
If you have made any large deposits to your accounts that are not income-related:
  (Note: "large deposit" is determined by loan program, borrower's income & savings, etc.)

Explanation and source for deposit.

If large deposit was a gift:

Signed gift letter (lender 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 at least the past 2 years (with schedules) & current balance sheet.
  If self-employed:

Tax returns for the last three years (with schedules).

Year-to-Date Profit and Loss Statement prepared by an accountant.
  If you own rental property:

Tax returns for the last two years and current rental agreements.
  If you are retired:

Pension Award Letter.
  If you receive Social Security or other government disability benefits:

Social Security Award Letter / disability award letter(s).
  If you are counting child support as income:

Copy of divorce settlement.

Copy of twelve months of cancelled child support checks.


Names, addresses, account numbers, balances and monthly payments on all current loans.
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 (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.


Photo ID and proof of Social Security number.
Residence addresses for the past two years, plus name/address of landlord (if renting).
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card (permanent resident card).