Carol Lollich, Broker-Owner
E-mail: homes@lollich.com
Call Toll Free: (888) 412-0172
24 Hours a Day
To help the loan application and approval process go smoother and faster, you should plan to bring to the application appointment any of the documents listed below that apply to your situation.
W-2's for the past two years (or complete tax returns if self-employed)
12 months mortgage or rental payment receipts or canceled checks
Most recent pay stubs covering the last 30 days
Bank statements for the last three months
Names, addresses and account numbers of creditors (i.e. bank cards, car loans, etc.)
Landlord's name, address, and the amount of rent paid (if applicable)
Proof of receipt from Social Security, retirement income, pensions, VA compensation, or other monthly income
A check for the Appraisal and Credit Report
In addition, the following will be required early in the loan process if they apply
The last two years signed partnership and/or corporate Tax Returns, including K-1's or S-1's
A year-to-date Profit & Loss for all self-employed, partnerships, and corporations
A copy of all lease agreements not listed on Schedule C of Tax Returns
If you are divorced, a certified copy of the Settlement Agreement and Final Divorce Decree. If you receive child support, alimony or separate maintenance, 12 months canceled checks; or verification from the court of payment; or a copy of the last 12 months bank statements showing that the payments have been received
Bankruptcy discharge papers with explanations (if applicable). One year must have passed (this may be longer for some lenders) since the bankruptcy was discharged, and no new derogatory credit items can appear on your credit report.
A copy of the Purchase Contract and the Real Estate Transfer Disclosure Statement signed by the Seller, Buyer and all agents.
You can receive "pre-approval" from many lenders without knowing which property you want to buy. Final loan approval is subject only to the property you choose appraising for the amount of the purchase price In fact, it is a very good idea to be "pre-approved" when you go out to look for property. Then, when you find the house you want, you are in a much stronger negotiating position (especially in a multiple-offer situation), if you can tell the Seller that you have already been approved for the loan, subject only to the appraisal .
