10 Items You Need For A Loan Application
1. If your self-employed then you're going to need at least the last 2-3 years of your business returns, otherwise just bring your W-2 forms.
2. Bring copies of your pay stubs for 1-3 months for every person that will be co-signing the loan.
3. Keep your bank records up to date and be prepared to bring your records for your checking account and savings account from the bank or credit union for the past 4 months.
4. Two and maybe three years worth of tax returns.
5. Your investments and assets need to be reviewed. Make a list of such items as boats, RV's, automobiles, etc that hold value. In addition, make copies of your brokerage account if you have investments of stocks or bonds.
6. If you have a 401 (k) investment account with your company then bring a recent copy of your statement.
7. If you receive child support, alimony, pension checks, etc, bring those records with you to show additional income.
8. Make a list of all your account numbers for your credit cards and bring copies to the lender.
9. For your car loans, current mortgage, student loans or any installment loans, bring a list of the lender, account number and balance.
10. You might be asked for past addresses going back 5-7 years and if you've been renting they will need to know contact information for the landlord.
RUTH BETHEM, ABR, CRS, GRI, Realtor®