How to Have Good Credit Scores Loan Document Checklist

Loan Application Document Checklist

The following items are required for timely processing of your mortgage application. If you can not find one of the checked items, please let me know. It is better for me to have most of the documents sooner, rather than wait for all of them because of a missing document. All originals will be copied and returned to you.

All Loan Applications:

Paystubs covering the most recent 30 days of income.
W-2 forms for the most recent 2 years from all your jobs.
Bank statements (all pages) for the most recent 2 months, checking and savings.
Investment account statements (all pages) for the most recent 2 months (even if you are not using those funds for closing).
Most recent 401k statement. (all pages)
Name, address and phone number of all landlords for the past 24 months.

If you are self-employed or wish to consider commissions, bonuses, investment interest or other forms of income:

Complete photocopies of your last 2 years personal tax returns and all schedules, including all K-1”s, 1099”s & W-2’s.
Complete photocopies of your last 2 years business tax returns and all schedules (1065’s 1120’s 1120s’s).
Year-to-date profit and loss statement from your business (self-employed only) Commission reports.

If you have divorced:

Complete signed copies of all divorce decrees, including any amendments or modifications.
Proof of receipt of child support/alimony income for the last 24 months if you wish to use this income to qualify.

If you have declared bankruptcy in the last 7 years:

Copy of petition/decree, schedule of creditors, and copy of discharge.

Miscellaneous Items:

If you are selling (or have sold) your current home please provide us with a copy of your signed HUD-1 settlement statement or the Estimate of Net Proceeds from your realtor.
If you own rental property, please provide your personal tax returns for the last 2 years as well as current leases on all properties.
If you have graduated from high school or college within the last two years, please provide a copy of your diploma and transcript.
Please enclose a check made out to River City for $350 for appraisal.
If you are being relocated by your employer, please provide us with a copy of that of your company’s relocation policy.
Home Owner’s insurance agent’s name and phone number
Copy of current property tax statement
Copy of Payment Statement for Mortgage(s) (If more than one include all)
Letter of Explanation regarding Credit History
Letter of Explanation regarding ______________________,
Copies of Driver’s License or other form of ID.
Certificate of Completion for Homebuyer Education

Other items:

Questions?
Please call Jason Stelter, your Mortgage Consultant at 612-636-6380.