You’ve decided to meet with a bank or mortgage company loan officer to see how much of a house you can afford before you go out and look at homes. Or, you’ve got that offer to purchase accepted on your dream home and are ready to apply for a home loan. Either way, the following checklist covers most of the information you and any co-borrower will need to supply. Some lenders have slightly different information requirements, so you should ask your lender what to bring to your initial loan interview.
Social Security Number and Birth Date
- Your social security number and birth date and those of any co-borrowers.
- Your most recent pay stub showing year-to-date earnings.
W-2 Tax Forms
- Your W-2 tax forms for the past two years.
- The names, addresses, and telephone numbers of your employers for the past two years.
- You will need the account number and current balance of your checking account, savings account and any other accounts you have.
- Current assets such as Individual Retirement Accounts (IRAs), certificates of deposit, stocks, and bonds. If you own securities, your lender may require a current brokerage statement with name of the stock(s), amount per share, and number of shares owned.
- Value of personal property including life insurance face value, employee retirement accounts, furniture, cars, collections, and other valuable property.
- For each loan, provide the lender with the name and address of each creditor and include both the monthly payment and total amount due. Liabilities would include auto loans, student loans, credit cards, and other installment debt.
Current and Previous Addresses
Offer to Purchase Contract
- If you now own a home you will need the property address, current market value, mortgage payment, and outstanding mortgage balance due. If you rent, you will need the property address, name and address of the landlord, the current monthly rent, and previous address/landlords. (You’ll only need to provide information about your former addresses if you’ve lived in your current address for less than two years.)
- If you have already completed an Offer to Purchase on a home, bring along a signed copy of that agreement and any amendments to it, a copy of the listing form for the property you wish to purchase, legal description of property, and receipts for earnest money or down payment deposits toward that property. If you don’t have a signed offer to purchase contract, you will not be applying for the actual loan at this time but will be pre-qualified or pre-approved by the lender.