What you need to get ready before applying for a mortgage loan – Todd Swanson, Mortgage Consultant

Loan Application Checklist

In general, the documentation you will need includes:

Purchases

Copy of Purchase Agreement with all addendums and counter offers.

Your Realtor's contact information (name, address, email address, and phone #).

If you are selling your current home, copy of listing contract.

If you have sold your current home, copy of settlement statement (HUD-1).

If property is in a Home Owners Association (HOA):

	HOA name
	Management company name, address, and Phone#

Refinances

Copy of your Mortgage statement.

Copy of your Note (this shows the terms of your current loan).

Copy of your most recent property tax bill.

Copy of your Home Owners policy declaration page.

If property is in a Home Owners Association (HOA):

	HOA name
	Management company name, address, and Phone#

Construction
	Copy of the plans.
	Copy of the contract with the builder.
	Copy of the builder cost break down.
	Copy of all cleared checks paid to the builder or for other construction related costs.
	Copies of all invoices and receipts.

Income

Pay stubs for the last 30 days and showing year to date income.

For the past two years:

	Names and addresses of each employer.
	W-2s and 1099s

Personal Tax Returns, complete with all schedules

If you own more than 25% of a business:

Corporate or partnership tax returns, complete with all schedules

If self-employed:

	Business Tax returns for the last three years (with all schedules).
	Year-to-Date Profit and Loss Statement prepared by an accountant.

If you own rental property:

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 or printout from court (if wage assignment).

Human Resources contact information for all jobs (name, address, phone #, and fax #).

Your CPA or Tax Preparer's information (name and phone #).

Assets

Most recent 2 monts statements (include all numbered pages)

Checking & savings

Stocks, Bonds, and Mutual Funds

Retirment plans: 401k, IRA, SEP, KEOGH

PERS, STRS, or any vested pension money

First page of Life Insurance policy and/or most recent statement showig cash value.

Your financial planner's contact information (name, address, and phone #).

If you've 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.

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

Copy of your driver's license or other Photo ID

Copy of Social Security card

Residence addresses for the past two years.

If rented in the last two years:
	Landlord name, address, and phone #.

If applicable, a complete copy of your divorce decree.

If you are not a citizen, a copy of the front and back of your green card.

Your Insurance Agent's contact information (name, address, and Phone #).

If applicable, complete copy of your Trust.

Realtor Resources CA Homebuyer Tax Credit CFP Resources

Todd Swanson, Mortgage Consultant 1081 Camino Del Rio South, Ste 210 San Diego, CA 92108

Phone: