Applying for a Home Loan

To apply for a home loan, you’ll need to provide information about your income, assets and debts, plus any circumstances that may impact your ability to repay. 

Below are some of the items you will need.

INCOME VERIFICATION

  • Pay stubs for the last 30 days
  • W-2 forms for the last two years
  • Child support/alimony - divorce decree or 12 months cancelled checks*
  • Award letter for social security, pension and 1099 for disability 

IF YOU ARE SELF-EMPLOYED

  • Signed, completed tax returns for the past two years, including personal, partnership, and corporate, if applicable, and all schedules.
  • Year-to-date business profit and loss statement for current year, if more than three months have passed since the end of the tax year
  • Current balance sheet 

ASSETS: SOURCES OF FUNDS/DOWN PAYMENT

  • Original bank statements for the last three months, including savings, checking, and investment accounts
  • Stocks and securities account statements for the last three months
  • HUD 1 settlement statement if using funds from the sale of property
  • Sale of asset – proof of ownership, proof of sale, and proof of funds transfer
  • For gift funds – a gift letter, evidence of transfer, and sometimes evidence of withdrawal

 PAYMENT HISTORY

  • Cancelled rent or mortgage payment checks for the past 12 months, if not available on credit report
  • Copy of land contract, if applicable
  • Child support/alimony
  • Bankruptcy/Consumer Credit, if received 

ADDITIONAL INFORMATION, IF APPLICABLE

  • Purchase agreement, including legal property descriptions and any addendum
  • Divorce decree
  • Explanation of discrepancies on credit

Download the forms and get started.

If you prefer complete the form below and submit.

Contact a us to explore your loan options, to finance your home loan.

 

*Child support or alimony income can be used if you received it for the past 12 months and it will continue for at least three years into the loan period. However, alimony, child support, or separate maintenance income need not be included if it is not to be considered as income available to repay the loan.

 

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