Document Checklist and Instructions

A properly documented loan application makes your loan process go smoothly. This checklist will help you gather your paperwork.  (Note: Faxed, READABLE copies of all requested documents are preferred, but mailed, READABLE copies are acceptable. - - - We are not responsible for original documents.)

1. Complete the residential loan application (Form 1003).  (If you print the forms to complete by hand, be sure to sign where requested, and to initial all other pages.  If you make a mistake while filling out the application cross it out, and make a change - - - Do NOT use whiteout.)

2. DL & SS cards. - - - If you are NOT a US citizen, provide a copy of your green card (front & back).  If you are NOT a permanent resident provide a copy of your H-1 or L-1 visa.

3. If you are salaried, provide W-2s and tax returns (with all schedules) for the previous two years, and paystubs for the last full month.  If self-employed, provide tax returns (with all schedules) for the previous two years, and a YTD P&L statement. If retired or disabled, provide award letter(s) and/or other supporting documentation and tax returns.
4. If you own rental property, provide current rental agreements.
5. Bank statements for the most recent three months, and most recent statements for saving, stock, mutual fund, and IRA/401K accounts.
6. If you are requesting a cash out refinance, provide an LOE (letter of explanation) regarding how you will use the proceeds.
7. If divorced, provide a copy of your divorce decree and settlement agreement.
8. If any borrower has filed bankruptcy within the last seven years, provide the Discharge Notice and Filing Schedues 'D' & 'F'.
9. If you are applying for a 2nd mortgage or a HELOC (home equity line of credit), provide your first mortgage note.

---

Homestead Mortgage Information - Tyler, TX 75701
Phone: (903) 509-0930 Fax: (903) 593-3802
E-Mail: hm-t@swbell.net

Homestead Mortgage Information is not a licensed brokerage.  This site is maintained to provide free information and calculators to its users, and free analysis of various situations presented by its users.  Feedback is appreciated. - Jim Reed



© 2010 Myers Internet All Rights Reserved

Powered by: Myers Internet | Admin Login