After you request your loan online and if you want to apply for a loan, it’s a good idea to start gathering up the following information. You need to submit this information to your Loan Officer in order to continue the loan process.
- W-2 form.
- Signed and dated Federal Tax Returns (1040’s) from the previous year, including all schedules (if applicable).
- Most recent pay stubs for each borrower.
- A copy of the Purchase Contract (if applicable).
If you are self-employed:
- Last year’s signed and dated tax return, including all schedules.
- If you receive a Social Security pension or annuity, provide a copy of the awards letter and a copy of a recent benefit check.
- If you own other real estate, provide a lease/rental agreement if applicable, and copies of property tax and insurance bills.
- If you receive alimony or child support, provide a copy of the divorce decree and evidence of receipt of income.
- If you pay alimony or child support, provide a copy of your divorce decree.
- If you’ve had a bankruptcy within the last seven years, provide a copy of your bankruptcy discharge, a copy of the petition (including schedules A & B) and an explanation of the circumstances.
- If you currently pay rent, provide the name and address of your landlord.
- That’s all there is to it! You’ll help speed up the loan process by providing the above information when applicable.