Loan Checklist

Loan Application Checklist

In general, the documentation you will need includes:

Property Information (if you already have a contract on an investment property)

         Purchase Agreement.

         Copy of legal description and MLS sheet or Loop Net listing.

         If you are selling your investment property, copy of listing contract.

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

Income & Assets

         Pay stubs for the last 30 days.

         For the past two years:

         Names and addresses of each employer.


         Statements for each bank, mutual fund, and/or investment account for the last three months.

         Estimated value of personal property and furniture.

         If you have 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.

         If you own more than 25% of a business:

         Corporate or partnership tax returns.

         If self-employed:

         Tax returns for the last three years (with schedules).

         Year-to-Date Profit and Loss Statement prepared by an accountant.

         If you own rental property:

         Tax returns for the last two years and 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.


         Names, addresses, account numbers, balances and monthly payments on all current loans.

         Explanation of credit report anomalies, including:


         Photo ID and proof of Social Security number.

         Residence addresses for the past two years.

         If applicable, a copy of your divorce decree.

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