Loan Aps: What You Need

Real Estate

Loan Aps: What You Need

l3 months’ bank statements on all accounts, including 401k

 Copy of HUD1 Settlement Statement on recent sales of homesl Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt

  Contact information for your current landlord’: name; address; and phone number

 Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens

 Copy of bankruptcy papers filed within the last seven years

 Copy of Social Security Card and driver’s license

 Last two years’ W2 forms

 Last pay stubs covering a 30 day period

 Federal tax returns (1040’s) for the last two years, if: If you are self-employed; earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own rental property; or you take non-reimbursed business expenses

  For self employed applicants the Year-to-Date Profit and Loss Statement 

 If you own more than 25% of a business, provide a Corporate or Partnership tax returns 

 Copy of purchase agreement (if you have already made an offer)

  If  you receive or pay child support  a copy of your court order 

  If divorced in the last 2 years, a copy of your divorce decree.