Most lenders will have you go online to apply in order to gain pre-approval. Following is the information you need to provide during the loan application process (these documents are usually uploaded to the lending specialist through a secured link):
General
- Non-expired Government ID and Social Security Number
- Name and complete address for past 2 years of residence
Income
- Employment history, including names, addresses, and phone numbers for the past 2 years
- Copies of your most recent pay stubs and W-2 forms (past 2 years)
- Verification of other income (social security, child support, retirement)
- Copies of signed tax returns, including all schedules (past 2 years).
- Social Security and Pension Award letters
- If you have rental property income: copies of all signed lease agreements
Assets
- Copies of all bank statements from checking/savings accounts (past 2 months)
- CD certificates and statements for retirement accounts (most recent 2 months or quarterly statement).
- Gift funds will need a gift letter as proof of the gift.
Creditors
- Credit cards (current balances and monthly payments)
- Installment loans (car, student, etc.).
- Mortgage loans (property address, lender with address, account numbers, monthly payment, and balance owed on all properties presently owned or sold within the last 2 years) Bring proof of sale for properties sold.
- Childcare expense/support (name, address, phone number). [VA loans only]
Other
- Bankruptcy – bring discharge and schedule of creditors.
- Adverse credit – bring letters of explanation.
- Divorce – bring your Divorce Decrees, property settlements, quitclaim deeds, modifications, etc.
- VA only – bring Form DD214 and a Certificate of Eligibility.
- Retires – bring retirement and/or Social Security Award Letter.
If you have any questions and want to learn more about the loan application checklist, reach out to Jennifer Yoingco, REALTOR®, and her team, The Houston Suburb Group. They’ll help you get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
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