How To Submit the Perfect Home Loan Application

Knowing how to submit the perfect home loan application can help you start your home ownership journey off on the right foot. Here are some helpful tips to ensure a smooth loan process. For a Smooth Process: An application is your first step to home ownership! Required documentation will vary, but generally, here is what we will need: YOUR EMPLOYMENT AND INCOME INFORMATION: 2 years employment history including job titles, dates of employment, employer’s address, and phone numbers Letter of explanation of any changes in employment Pay stubs for the most recent 30 days Copies of W-2s for the last 2 years Copies of federal, personal, and business tax returns for previous 2 tax years, including all W-2s, 1099s, K1s, and all schedules. If filing an extension, please provide extension YOUR RESIDENCE INFORMATION: 2 years residence history, including addresses, dates, and phone number for landlord if renting If you currently own a home, please provide the most recent mortgage statement Name and phone number of your homeowners insurance agent BANK & OTHER STATEMENTS: Most recent 2 months or quarterly bank statements for all checking, savings, and investment accounts (all pages, even if blank) Most recent 2 months or quarterly 401K/Retirement statements (all pages, even if blank) Copy of cancelled Earnest Money check when it clears your bank account, along with most recent bank statement showing check clearing Non-payroll deposits—we will need to verify the source and receive explanation for non-payroll deposits to your accounts, including any transfers between accounts (make copy of any check you deposit) IF APPLICABLE TO YOU, THE BELOW ITEMS MAY BE NEEDED: Complete divorce decree and/or separation papers Alimony/child support income; proof of receipt may be required Bankruptcy discharge papers (including filings, discharge, and list of creditors) If receiving Retirement or Social Security income, award letter and proof of receipt may be required If any portion of your down payment or closing costs is coming in the form of a gift, please call us, because the documentation required for gifts is fairly comprehensive Once we pull your credit, we may need a signed letter of explanation and/or documentation for any inquiries and/or derogatory credit VA loan: DD214 and Certificate of Eligibility To access our online application go to https://www.myloanform.com/?action=access.login&m=47