A Loan Approval Checklist

Are you looking to buy a house and/or get a loan approved in the coming months?

Don’t you hate it when your lender or mortgage broker says they need just one more piece of information?

Here is one of the most complete lists of every document necessary for the approval of a loan. Figure out which one’s you’re responsible for - or give me a call and I’ll let you know which ones you need - and then when the lender calls, you don’t have to scramble to get what he or she needs.

Loan Approval Checklist

• Appraisal
• Credit Report
• W-2’s (2 most recent)
• 1040 Tax Returns for 2 most recent years
• Paystubs for all borrowers for last 30 days
• Profit and Loss statement, YTD and balance sheet from accountant for self-employed borrowers
• Business Tax Returns
• Verification of additional income (child support, Social Security Income (SSI), Pensions, etc.)
• Most recent statements on 401 plan, IRAs, stocks, mutual funds, etc. \
• List of all open accounts with balances (credit, auto payment)
• Bank statements for the last 3 months with ALL of the pages
• Gift letter and copy of gift check (if applicable)
• Name and address of landlord (last 2 years) or mortgage company
• Copy of note
• Copy of deed and trust on property being refinanced
• Copy of leases on rental properties
• Copy of contract on sale of present home
• Ratified sales contract with all addendums
• Copy of earnest money deposit check
• Copies of military orders (if applicable)
• Copy of DD214 (Military Discharge Papers) (if applicable)
• Original Certificate of Eligibility
• Copy of the title to any car, boat or other vehicles less than 3 years and paid in full
• Copy of divorce decree or separation agreement
• Child support documents with 1 year payment history from courthouse (if applicable)
• Paid receipt for any collections, charge-offs, judgments, or liens