Haley Financial Services

 

 

Whether you're buying your first home, considering a second mortgage, refinancing, or considering a construction loan, the loan process can be confusing and complicated. As you embark on one of the biggest financial decisions you'll make in your lifetime, it's important that you understand what to expect before you sign your name to the dotted line.

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Not sure what you'll need to make a mortgage loan application?

The following checklist will facilitate your mortgage loan. The checklist includes most of the information that you and any co-borrower will need to supply. However, some lenders have slightly different requirements and require additional information.

Social Security Number/Date of Birth

Paycheck

  • Most recent pay stub that shows year-to-date earnings.

W-2 Tax Forms

  • Original copies sent to you by the Internal Revenue Service for the past two years.

Employer Information

  • Names, addresses, and telephone numbers of employers for the past two years

Account Information

  • Account numbers and current balances of checking, savings, and any other accounts.

Current Assets

  • Individual Retirement Accounts (IRAs), CDs, stocks, bonds, etc.

Personal Property

  • Value of property that can include life insurance, retirement accounts, cars, etc.

Liabilities

  • Auto loans, student loans, credit cards, and other installment debt -- provide name and address of each creditor and the monthly payment and total amount due.

Current and Previous Addresses

  • If you own a home: Bring the property address, current market value, mortgage lender name, account number, current monthly mortgage payment, and outstanding mortgage balance.
     

  • If you're renting: Bring the property address, name and address of the landlord, current monthly rent, and previous address/landlords if you've lived in your current address for less than two years.

Agreement to Purchase

  • A signed copy and any amendments, a copy of the listing form for the property, the legal description of the property, and receipts for or down payment deposits.

 

 

NEW From the Washington State Department of Financial Institutions!

A Guide to Home Loans CD-ROM

Click here to be transferred to DFI's site.

The CD offers an invaluable list of resources, checklists, mortgage calculators, and samples of forms. The CD highlights such topics as: understanding disclosure documents; avoiding predatory loans; and includes a glossary of mortgage terms.