What Documents do you need?

Now, Its time to sit down with your newly chosen loan officer and go through all your required documents.

What would these be? If your loan officer was thorough in your documentation request, certain questions should have been asked of you. Here is a good list of all items necessary to any good loan application appointment.

Are you Salaried or Commissioned or Self employed?

Salaried employees are required to provide one full months worth of pay stubs and the last two years w-2's.

If you have a base salary and receive more than 25% of your income as commission you will need to provide one full month's pay stubs, w-2's, and tax returns.

If you are self employed or contract labor you will need to provide your 1099's and your last two years tax returnsand paystubs if you recieve any.

Do you have any Checking Accounts, Savings Accounts, Retirement Accounts, 401k's, Annuities, Stocks/Bonds?

On Checking and Savings Accounts you will need to provide the last sixty days of a bank certified printout (stamped and signed by bank attendant) or the last two months bank statements ALL PAGES EVEN BLANK PAGES.

On Retirement, 401k's, Annuities, and Stocks/Bonds you will need to provide the last quarterly statement.  Remember on Retirement Accounts, these are not usable if they are not liquedable.. Example Teacher's retirement is not liquedable.

Do you recieve any other forms of income that you would like to include for qualifying purposes such as Child Support or Disability Income, Social Securtity Income or Retirement Income?

For childsupport income you will have to provide  a copy of the court order or divorce decree awarding this support and the last twelve months payment history from the child support district. or the last twelve months of cancelled checks if child support is privately paid.  For disability income you will need a copy  of the last disability check and Disability awards letter along with proof that the disability is permanent and the income will continue.  Social Security awards letter is required on SSI along with a copy of the most recent recieved check.  and Retirement requires a copy of the retirement awards letter and the last recieved direct deposit or copy of check recieved.

Have you filed for Bankruptcy or had a forclosure?

If so the lender will need a copy of the Bankruptcy papers, a copy of the discharge letter, or if your case is still pending a letter from the courts giving you permission to incur a new debt.  For forclosure proceedings you will need to provide proof of forclosure date.

Will you be using any down payment assistance programs?

This will require extra months of depository account information along with social security cards and drivers liscences for all other household members.

Do you currently rent or do you currently own your current residence?

If you currently rent you will need to provide the loan officer with your landlord information to be contacted.  If you own your home a mortgage statement , homeowners insurance info, property tax info is sufficient.

Dont forget to bring along your driver's lisence and social security card  as well.

For Va Loans:

You are required to Bring in Your DD214 or Statement of Service

Your last Leave and Earnings Statement

Your last two years w-2's

Military Id Cards

Childcare Letter-  If you have children that are not of school age. If the child/children are in day care you will have to provide documentation of the monthly expense.  If a spouse if a homemaker you will provide a letter as to such.