Mortgage Loan Process - Application Checklist

First Bank will need the following information or documentation to complete the Mortgage Loan Application
(You can download a printable version of this checklist HERE)


Employment
• Names, Addresses & Dates of Employment for all employers over the past two years
• Most recent Pay Stubs with year to date information covering at least 30 days of employment
• Federal Tax Returns with W-2 Forms
       •1 Year for Employed by others
       •2 Years for Self Employed
       •3 Years for First Time Buyers

Assets
• Copies of Statements for previous 3 Months for all accounts including Checking, Savings, Retirement, Stocks, Bonds or other Marketable Securities
• Gifts Donor’s name, address, telephone number & relationship

Liabilities
• Names, Addresses, Account Numbers, Monthly Payment Amount and Balances of all open credit accounts, including automobile loans, student loans, other installment debt and credit card balances.

Child Support or Maintenance
• A copy of the divorce decree or maintenance agreements if income is used to qualify or if applying for loan programs with income limits.

Rental History
• Landlord’s name, address and telephone number

Recent College Graduate
• Provide a copy of a transcript or college diploma if you have been in school within past two years

Construction Loans
• Builder’s Plans
• Builder’s Specifications
• Signed Construction Contract
• Cost Breakdown
• Contractor’s Affidavit

Real Estate Owned
• Name, Address and Account Number for current Mortgage Lender Copies of Lease Agreements for Rental Properties
• Signed Sales Contract for Pending Sales
• If sale proceeds will be used to close, a copy of the signed Settlement Statement is required

Purchases-Sales Contract
• A copy of the signed Sales Contract for new purchases

Non-US Citizens
• INS or US Dept. of Homeland Security Information for permanent and non-permanent resident aliens

VA Loans
• Original Certificate of Eligibility
• Copy of DD214

Bankruptcy
• Provide a Letter of Explanation regarding the circumstances surrounding the Bankruptcy
• Provide a copy of the Discharge and Schedule of Debts

Next Is The Application >>