Loan Application Checklist – Emory Area Buyers

Hand checking off loan application items on list

Here are some general items required by mortgage lenders when you make an application for a loan. 

  • If you already have a contract on a property:
    • Copy of the Purchase Agreement
    • Copy of the Legal Description
    • If you are selling your current home, a copy of the Listing Contract and/or copy of accepted offer on your home if it is Under Contract
    • If your current home has sold, a copy of the Settlement Statement
  • Income and Assets
    • Pay stubs for the last 30 days.
    • Names and addresses of each Employer for past two years
    • W-2's for past two years
    • Statements for each bank, mutual fund, and/or investments for the last three months 
    • Estimated value of personal property and furniture
    • An explanation of any large deposits to your accounts - whether it was a gift, copy of gift check, signed gift letter, copy of the deposit receipt
    • If you own more than 25% of a business, you will need to provide corporate or partnership tax returns
    • If you are self-employed, you will need to provide tax returns for the last three years (with schedules), and a Year-to-Date Profit & Loss Statement prepared by an Accountant
    • If you own rental property, you will need to provide tax returns for the last two years and a current Rental Agreement for the property
    • If you are retired, you will need to provide proof of pension and/or income
    • If you receive Social Security, you will need to provide proof of Social Security income - Social Security Award Letter
    • If you receive child support as income, you will need a copy of the Divorce Settlement or Court Decree and copies of twelve months of cancelled child support checks.
  • Debts
    • Names, addresses, account numbers, balances and monthly payments on all current loans
    • Explanation of any credit report discrepancies, including late payments, credit inquiries in the last 90 days, charge of collections, judgments and or liens; any bankruptcy filed within the last seven years and a copy of the bankruptcy papers.
  • VA Loans
    • ​Copy of appropriate forms and Report of Separation
  • Miscellaneous
    • Photo ID and proof of Social Security number
    • Residence address for the past two years
    • If applicable, a copy of your Divorce Decree
    • If you are not a US citizen, a copy of the front and back of your green card

    This list should not be considered all-inclusive, but a general guideline of items that may be required by your lender.  Lenders often require additional paperwork not included here, so be prepared to provide everything they request in a timely manner.  Providing all documentation quickly will help assure that your loan is approved and you close on time.

    For Buyers: