Checklist

Loan Application Checklist

In general, the documentation you will need includes:

$25 initial processing/credit investigation fee.

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

Purchase Agreement.

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 and signed tax returns

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

If you have made any large deposits to your accounts:

Explanation and source of deposited funds.

If large deposit was a gift:

	Signed gift letter (we will supply).
	Copy of gift check.
	Copy of deposit receipt.

Think “Paper Trail”

If you own more than 25% of a business:

Corporate or partnership tax returns.

If self-employed:

	Complete Tax returns for the last two years.

If you own rental property:

Tax returns for the last two years and current rental agreements.

If you are retired:

Pension Statement / 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

Explanation of credit report issues, 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).

Miscellaneous

Photo ID and Social Security card.

Residence addresses for the past two years.

If applicable, a copy of your finalized divorce decree.

Insurance agents name and phone number

Letter of explanation for any derogatory credit items

WACO Financial