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The Linda Lom Client Guide

Your Guide to All Things Buying, Selling, Home-Ownership and Washtenaw County

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Linda Lom Client Guide - Expedite Your Loan Application

Linda Lombardini

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

Jan 7 3 minutes read

Expedite Your Loan Application

Documents needed:

____ Personal check or credit card to pay for appraisal and credit report.

____ Name and address of all employers for the last two years with dates of employment (Human Resources office and phone number).

____ W-2 forms for last two years. ____ Paycheck stubs covering the most recent thirty days (computer generated).

____ Bank statements for the previous three months. Also, include institution name, address, account number(s) and balance(s) for all accounts.

____ Asset account statements: i.e. IRA, 401K, Mutual Funds, stock, etc.

____ Account number(s), balance(s) and monthly payment(s) for all outstanding creditors: i.e. credit cards, car loans, student loans, signature loans, etc.

____ Previous addresses for the past two years. ____ Purchase agreement and all addendums.

Information that may be required:

____ If you are divorced, a copy of complete divorce decree along with any amendments.

____ If you pay alimony or child support, a “friend of the court” letter stating payment amount and showing the account is current or twelve months cancelled checks if paying directly to recipient.

____ If you are self-employed, employed in a family business, a tradesperson, or your income is based on commissions: tax returns for last two years, complete with all schedules and a year-to-date profit and loss statement.

____ If your present home is for sale, copy of the listing, purchase agreement, or closing statement.

____ If you have been renting during the past year, list of names, addresses and phone numbers of all landlords (twelve months cancelled checks will expedite your loan process).

____ If you have had a mortgage or land contract within the past year, provide the name, address and account number of lender (twelve months cancelled checks will expedite your loan process).

____ If liquidating savings bonds or stocks for closing, provide proof of ownership: serial numbers, denominations and dates of purchase. For stocks—photocopy of most recent stock ownership statement or photocopy of stock certificates.

____ If you have made any recent large deposits, please provide documentation supporting the source of these deposits.

If you are purchasing a home:

____ Phone numbers for the Realtors.

____ Property information listing sheet or computer print-out indicating lot size, taxes, square footage and year built.

If you are applying for a VA loan:

____ Your certificate of eligibility or DD214.

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