APPLYING FOR A MORTGAGE

If you haven't done so prior to going under contract, once under contract you will have a specific amount of time to make formal application for your mortgage loan. The following is a list of items, as applicable, to bring with you:

1. Social Security Number(s)
2. Full mailing addresses of the place(s) lived over the past two years.
   If renting:
   • your landlord's name and address to send verification
   • monthly rental amount and amount of utilities
3. Employment:
   • Name of company, mailing address and phone number
   • Position held, salary, years employed
4. Income:
   • Salaried:
     • Gross monthly amount (pay stub)
     • Year to date earnings (pays stub)
     • How long at present earning level
     • Proof of pensions, retirement, disability or Social Security
   • Commission:
     • Signed tax returns for previous two years
     • Year to date earnings (current pay stub)
   • Self-Employed:
     • If on draw from the business, just personal records
       • Signed tax returns from the previous two years
       • Year to date earnings (pay stub or W-2)
     • If your income is derived from the profits of your business:
       • Signed corporate or partnership tax returns for the previous two years
       • Audited financial statement
       • Profit and loss statement for year to date income
     • Part time or Overtime
       • Last full calender year earnings (last pay stub)
       • Must be guaranteed
5. Mortgage:
   • Name and full mailing address of mortgage company
   • Mortgage loan numbers
   • Estimated balance, equity
   • Any previous mortgage within the last two years
6. Bank accounts:
   • Name of bank(s), mailing address
   • Checking, savings account numbers
   • Style of accounts - joint/individual
   • Approximate balances of each account
7. Outstanding loans:
   • Name and full mailing address of institutions
   • Type of loans, loan numbers
   • Approximate balances, monthly payments
8. Credit card accounts:
   • Name of cards, style of accounts - joint/individual
   • Name account is in
   • Approximate balance and monthly payments
9. Other assets:
   • Whole life insurance (cash value)
   • Stocks and bonds
     • Type, number of shares, current value
   • Dividend and interest income
   • Capital gains, rental income

You will need to bring a check to cover the cost of the appraisal and credit report (will vary, approximately $250-$300).