Your loan application is one of the first steps to getting the ball rolling on your home financing. You can fill out a loan application in person with your mortgage banker, or depending on the lender, you can start the process over the phone or online. If you’ve already been pre-approved, you may have filled out some of the application details with your mortgage banker already.
To complete your loan application, your lender will ask for information regarding employment, finances, and the home you are purchasing. Be prepared to provide the following documentation and information:
- Purchase agreement
- Contract for sale (if applicable)
- Last two years W-2’s and federal tax returns
- Last 30 days paystubs
- Last two months bank statements for all financial accounts (including investments)
- Loan payment information (car, boat, etc.)
- Divorce decree (if applicable)
- Evidence of alimony or child support (if applicable)
- Earnest money deposit receipt
- Attorney/realtor contact information
- Business tax returns and certified Profit & Loss statements, if self-employed
- Application fee
- Drivers license and social security card
- Two-year residency history
Not all items listed above are applicable to all loan applications. Further documentation may be required for certain loans and borrowers. Getting these items to your mortgage banker in a timely manner will help keep the loan process on schedule.
Looking for more information on buying a home? Our Mortgage 101 Handbook is the ultimate guide for First Time Home Buyers.