Loan Application Checklist

If you think that there is a reason you can't own your own home, let's talk, it could be easier than you think to work things out. With all the programs available, you deserve it and together we can work it out.

To apply for a loan, 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.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

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.

 

 


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Judy D Brown

Direct: 615.585.8429

Cornerstone Realty of Murfreesboro, Inc.    

Office: 615.893.3000 / Cell: 615.585.8429

  

Cornerstone Realty of Murfreesboro, Inc License # 244206.  The  Managing Broker is the  Listing Broker for all of Jones Construction Company, LLC (Owner) listings.  I am a BUYERS AGENT . Both Owner and Managing Broker has given consent for these Company listings to be on this web site.

 Judy D Brown License # 22100

 Cornerstone Realty / Cornerstone Realty of Murfreesboro Inc 

1925 SE Broad St Murfreesboro, TN 37130
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