Loan Aps: What You Need

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Real Estate

Loan Aps: What You Need

*3 months’ bank statements on all accounts, including 401k

*Copy of HUD1 Settlement Statement on recent sales of homes

*Gift letter (for funds from family members); donor’s bank statement; copy of gift check; copy of deposit receipt

*Landlord’s name, address, and phone number

*Explanations for late payments; credit inquiries in the last 90 days; charge-offs; collections; judgments; liens

*Copy of bankruptcy papers filed within the last seven years

*Copy of Social Security Card and driver’s license

*Last two years’ W2 forms

*Most recent pay stubs covering a 30 day period

-Federal tax returns (1040’s) for the last two years, if:

*You are self-employed; earn regular income from capital gains; earn sizable interest income; earn more than 25% of your income from commissions or bonuses; own    rental property; or you take non-reimbursed business expenses.

*Year-to-Date Profit and Loss Statement (for self employed)

*Corporate or Partnership tax returns (if you own more than 25% of a business)

*Copy of purchase agreement (if you have already made an offer)

*Receipt for child support payments

*Copy of Divorce Settlement