In general, the documentation you will need for a loan application includes:

• Photo ID and proof of Social Security number.
  (If you are not a citizen, a copy of the front and back of your green card.
• 2 years residence history.
• 2 years employment history -- including name and address of employer.
• W2 (2 years) and current pay stubs.
• Corporate or partnership tax returns if you own more than 25% of a business.
• Tax returns for the last two years and current rental agreements if you own rental property.
• Tax returns for the last 2 years (with schedules) if self employed.
• Copy of Pension Award Letter if you are retired.
• Social Security Award Letter if you are retired.
• Recent 2 months bank/investment statements on all accounts.
• Current loan debts: list names, addresses, account numbers, payment and balances.
• Loan information on other real estate owned.
• Estimated value of personal property and other assets.
• Copy of divorce settlement and twelve months of cancelled child support checks if you are counting as income.
• Copy of DD Form 214, Report of Separation if securing VA Loan.
• Written explanation of credit report anomalies, including: late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens. Any bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
• 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)

Financing real estate property can be intimidating. That's why having a professional real estate agent represent can greatly reduce the amount of pressure you feel during this stressful time. Please email me or call me directly at 773-392-4252 or 847-337-4252 to discuss any of these matters in further detail.