Getting a Loan Approved
You May Need These Items When You Apply For a Loan
- Income
- W2 forms for the last two years
- Most recent pay stubs covering a 30 day period
- Federal tax returns (1040's) for the last two years, if:
- you are self-employed
- earn regular income from capital gains
- earn sizable interest income, etc.
- earn more than 25% of your income from commissions or bonuses
- own rental property
- or are in a career where you are likely to take non-reimbursed business expenses).
- Year-to-Date Profit and Loss Statement (for self employed)
- Assets
- Bank statements for previous two months on all accounts.
- Statements for two months on all stocks, mutual funds, bonds, etc
- Copy of latest 401K statement.
- Copy of HUD1 Settlement Statement on recent sales of homes
- Credit
- Landlord's name, address, and phone number (if you rent)
- Explanations for any of the following items which may appear on your credit report:
- Late payments
- Credit inquiries in the last 90 days
- Collections
- Judgments
- Liens
- Other
- Copy of purchase agreement (if you have already made an offer)
- To document receipt of child support
- Copy of Divorce Settlement
- Copies of twelve months canceled checks to document actual receipt of funds
- FHA Loans
- Copy of Social Security Card
- Copy of Driver's license
- VA Loans
- Copy of DD214
