To apply for a loan you need to provide several items and pieces of information.
Proof of Social Security number.
If you are not a citizen, a copy of both sides of your green card
Pay stubs for the last 30 days.
Residence addresses for the past two years.
Employer names and addresses and W-2 forms for the last two years.
Statements from each bank, mutual fund, and/or investment account for the last three months.
Estimated value of personal property and furniture.
If you have made any large deposits to your accounts, provide an explanation and the source
If the large deposit was a gift, provide a signed “gift letter”, which the lender can supply; a copy of the “gift check”; and, a copy of the deposit receipt.
Property Information, if you already have a contract on a house. You do not, however, need to have a property identified, nor, a contract on a property to complete the application and the pre-approval process.
Copy of legal description and MLS sheet.
If you are selling your current home, a copy of the listing contract.
If you have sold your current home, a copy of the settlement statement (HUD-1).
If you own more than 25% of a business, you need to provide corporate or partnership tax returns.
If self-employed, you need to provide tax returns for the last three years, with schedules, and year-to-date profit and loss statement prepared by an accountant.
If you own rental property, provided tax returns for the last two years and current rental agreements.
If you are retired, provide a pension award letter and your Social Security award letter, if applicable.
A copy of your divorce decree, if applicable.
If you are counting child support as income, you need to provide a copy of the divorce settlement and twelve months of cancelled child support checks.
Debts: names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report actions including late payments, credit inquiries in the last 90 days, charge-offs, collections, and judgments and/or liens.
Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).
VA Loans: copy of DD Form 214 and the “Report of Separation”.