What you need to get ready before applying for a mortgage loan – Mortgage Masters Inc – Loan App Checklist

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Loan Application Checklist

In general, the documentation you will need includes:

Check for application fee

Property Information (if you already have a contract on a house)

Purchase Agreement.

Copy of legal description and MLS sheet.

If you are selling your current home, copy of listing contract.

If you have sold your current home, 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.
	W-2s

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.

Debts

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

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

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.

Get a New Loan Quote

Looking for a new home loan? Fill out the following form to get a fast quote from us.

Contact Info

* Name:

* Email:

Phone:

Property Information

Are you under contract?:

In what state is the property located?:

When are you wanting to close?:

What is the purchase price?:

Mortgage Information

What is our desired loan amount?:

Program (Fixed, adjustable or Interest Only)?:

Questions

Questions, comments or concerns?:

SMS Messaging:

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Mortgage Masters Inc

9549642220
800-220-1006
info@mortgagemastersinc.com

2699 Stirling Road Suite C101
Fort Lauderdale, FL 33312

Company NMLS #330508

We are committed to communicating with you in a professional manner and protecting your confidential information. We will not share your information with any third party outside of our organization other than as necessary to fulfill your request. This company does not sell, trade or rent your personal information to others.
These products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors including your credit rating, size of down payment and amount of documentation provided. NMLS ID 330508

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