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Realty Professionals
8070 21 Mile Rd.
Shelby Twp., MI 48317
ph:  586.932.2660
fax: 586.932.2662
al@mirealtypros.com
Home > Loan Application Checklist
Loan Application Checklist

Print Loan Application Checklist

In general, the documentation you will need includes:

Check for Application Fee

Property Information (if you already have a contract on a house)
Purchase Agreement
Copy of Legal Description and MLS sheet
Copy of Listing Contract (If you are selling your current home)
Copy of Settlement Statement HUD-1 (If you sold your current home)

Income & Assets

Pay stubs for the last 30 days
  For the past two years:
 

Names and addresses of each employer

W-2s
Statements for each bank, mutual fund, and/or investment account for the last three months
Estimated value of personal property and furniture
  If you have made any large deposits to your accounts:
 

Explanation and source for deposit

If large deposit was a gift:
 

Signed gift letter (lender can supply)

Copy of gift check

Copy of deposit receipt
  If you own more than 25% of a business:
 

Corporate or partnership tax returns
  If self-employed:
 

Tax returns for the last three years (with schedules)

Year-to-Date Profit and Loss Statement prepared by an accountant
  If you own rental property:
 

Tax returns for the last two years and current rental agreements
  If you are retired:
 

Pension Award Letter
  If you receive Social Security:
 

Social Security Award Letter
  If you are counting child support as income:
 

Copy of divorce settlement

Copy of twelve months of cancelled child support checks

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans
Explanation of credit report anomalies, including:
 

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens

Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers)

VA Loans

Copy of DD Form 214, Report of Separation

Miscellaneous

Photo ID and proof of Social Security number
Residence addresses for the past two years
If applicable, a copy of your divorce decree
If you are not a citizen, a copy of the front and back of your green card