For a purchase transaction, a fully executed sales contract/purchase agreement, with all addendums (including any property upgrades).
Residence address(s) for the past two (2) years.
Employment history for the last two (2) consecutive years, including dates employed, name, address, and phone number of employer.
List of monthly payments made by you that would not be included on a credit report, such as rent, alimony, child support, etc.
Documents needed to support information provided in application:
Complete copies of bank statements (for all your accounts), or statements verifying any other assets being used for qualification purposes, covering the last two months. All pages of the statements are required.
If a W-2 wage earner, most recent two (2) years W-2s and most recent pay stub covering a 30 day period, including overtime, bonuses, and commission income.
If receiving Bonuses and/or Commissions, provide signed copies of complete personal federal tax returns
If a Self-Employed borrower, most recent two (2) years personal tax returns including all schedules. Also provide a copy of your Profit and Loss Statement through the most recent quarter/year.
If Self-Employed, other than a sole proprietor, complete copy of Corporate, S-Corporation, or Partnership tax returns for the last two (2) years, including all schedules and signed by a company officer.
If receiving Social Security, a copy of your most recent Social Security Award Letter.
If receiving Pension/Retirement, a copy of your most recent Pension/Retirement check or if direct deposit, a copy of your bank statement showing the deposit source and amount.
If receiving Disability, a copy of your Disability Award Letter.
If receiving Child Support or Alimony (and wish to include as income), a copy of the divorce decree, including all pages.
Copy of divorce decree and filed property settlement agreement, if applicable.
Drivers License (must be a clean, clear copy).
If Veterans: Copy of DD 214 and Eligibility Cert
Information needed prior to loan closing:
Homeowners insurance declaration page
Flood insurance declaration page, if property is identified as being in a flood zone
Print Checklist
Annual Percentage Rate (APR) calculations assume single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than 80%; a minimum FICO score of 780; and a loan amount of $300,000 for conforming loans or $500,000 for jumbo loans, unless otherwise specified. Annual Percentage Rate (APR) calculations assume no subordinate financing and that the borrower will provide full income documentation. On ARM amortization, the Annual Percentage Rate (APR) calculation assumes an indexed rate (Margin + LIBOR/T-Bill Index) after the initial fixed period of the ARM.
Rates may be higher for loan amounts under $300,000 and over $500,000. Please call for details. Rates are subject to change without notice. Closing Costs assume that borrower will escrow monthly property tax and insurance payments. Subject to underwriter approval; not all applicants will be approved. Fees and charges apply. Taxes and insurance are extra. On refinance transactions, the Annual Percentage Rate (APR) calculations assume a rate and term refinance. 30 Day Rate Lock. Rates based on Pennsylvania property. Third party rate comparison information is deemed to be reliable but not guaranteed. Restrictions may apply
Rates are provided for informational purposes only and reflect the average daily rates of several lenders. Rates are subject to change without notice and are available upon approved credit only.
Copyright TopLoanOfficer.com
DISCLAIMER: THE CONTENTS OF THIS WEBSITE, INCLUDING ALL ARTICLES AND LINKS IS FOR GENERAL INFORMATIONAL PURPOSES ONLY, AND IS NOT INTENDED TO PROVIDE PROFESSIONAL, ACCOUNTING, TAX. LEGAL OR FINANCIAL ADVICE. EQUAL HOUSING LENDER
