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Loan Application Appointment
(Requirements)
- Sales Contract executed by all parties.
- Social Security numbers for each borrower.
- Addresses where borrowers have resided for the last two years.
- Two years employment history for all borrowers. Self-employed
borrowers may need to furnish additional income verification by supplying
income tax returns from the previous two years.
- Checking and saving account numbers, approximate balances, and addresses
of the financial institutions.
- Installment debt and credit card references including account numbers,
monthly payment, approximate balances that are owed.
- Present mortgage loan reference with account number, monthly payment, and
approximate balance.
- Details on assets such as stocks and bonds, cash value of life insurance,
personal property, all vehicles, etc.
- Details on any real estate investments owned, including market value,
gross rental income, loan balance, monthly payment, name of lender, address,
and account numbers.
- If a borrower wishes to furnish previous credit references such as paid
mortgage loan, furnish name and address of lender, account number, original
balance, and date of payoff.
- Appraisal and credit report fees will usually need to be collected upon
application.
- Processing time is usually reduced if applicants bring addresses and zip
codes on employers, mortgage companies, banks, and savings and loans.
this is especially helpful if these addresses are out of town.
- If your loan is to be a Veteran loan or a combination VA/FHA, bring
separation forms (DD-214) or equivalent. If you have used your VA
eligibility on a prior home, the lender will need the following information:
Property address, date purchased, date sold, and VA loan number.
- When supplying the lender with information, do not send original
documents, copies are acceptable. Any papers mailed should be sent
with a return receipt and be addressed to a specific person at the lending
institution.
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