What you need to get ready before applying for a mortgage loan – LCD Mortgage Co.

Loan Application Checklist

In general, the documentation you will need includes:

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

Federal Tax returns for the last two (2) years (with schedules).

Statements for each bank, mutual fund, and/or investment account for the last three months. (All Pages)

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.
	Borrower copy of bank statement showing deposit
	Donors Ability. (Copy of Donors Bank Statement)

If you own more than 25% of a business:

Corporate or partnership tax returns.

If you are self-employed:

	Federal Tax returns for the last two (2) 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.
	Proof that these are paid and/or vacated.
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
	Copy of discharge letter.

VA Loans

Copy of DD Form 214, Report of Separation.

Certificate of Eligibility (COE) Click Here for instructions

Miscellaneous

Government Issued Photo ID and proof of Social Security number. (State Issued Driver's License, Passport)

Residence addresses for the past two years.

If applicable, a copy of your divorce decree. (All Pages)

If applicable, a copy of court order for child support and/or alimony.

If you are not a United States citizen, a copy of the front and back of your green card.