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Information on mortgages, home equity loans, and consumer credit to help you use the power of financing to your advantage.
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Untitled Page
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Mortgages > Purchase
Mortgage Application Checklist:
Typically here are the items needed to get your mortgage started. This check list is very handy to follow to help with a speedy refi or a home purchase. Some lenders may vary in the items that they ask for depending upon your financial situation and type of loan applying for, but here are the basics.
1) Signed application
2) Signed good faith estimate
3) Signed authorization form
4) Signed Escrow Waiver
5) Signed Privacy Policy
6) W-2 for 2003 and 2004
7) ;Most recent paystubs (one month)
8) Proof of Identification (only one document for the below list is needed
a. Valid Permanent Drivers License (front and back)
b. Valid U.S. Passport (front and page with picture ID)
c. Valid U.S. Military Identification Card (front and back)
d. Valid Resident Alien Card (front and back)
9) If Self-Employed: Copies of complete signed last two years 1040’s signed (Federal Tax Returns) with all schedules and a current year to date profit and loss statement/balance sheet.
10) Most recent bank statement ALL PAGES
11) Homeowner’s insurance agent name and number
12) Name and phone number of title co. / closing agent - When selecting your title company, make sure they will request payoff information.
13) Pay Off information for your current mortgage.
14) Property tax bill – If available
15) If known – Year built, Acreage, Condo, Dues
Here’s a general mortgage application check list and the list may vary depending upon the mortgage company you choose. Good luck and make sure you shop for the best rate and fees for your mortgage it could save you thousands of dollars down the road. Feel free to pring this mortgage application check list.
• Apply now for a home loan!
The tips on this website should be considered food for thought only. Lendingtips.com is a clearinghouse of ideas, not a professional adviser. Before any important decision, please consult the appropriate professionals (lawyer, accountant, real estate agency, broker etc.).
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• Mortgages > Purchase Articles Archive
• Mortgage Loan Calculator Use this calculator to determine your monthly payment and amortization schedule.
• Mortgage Qualifier Can you buy your dream home? Find out just how much you can afford!.
• Refinance Breakeven Should you refinance your mortgage? Use this calculator to determine when you will breakeven!
• Rent vs. Buy Are you better off buying your home, or should you continue to rent?.
• Amortizing Loan Calculator Enter your desired payment - and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your monthly payment!
• ARM vs. Fixed Rate Mortgage Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
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