What you need to get ready before applying for a mortgage loan – Security First Financial Services

Loan Application Checklist

In general, the documentation you will need includes:

Check for credit report fee (we don't charge an application fee for putting together your transaction).

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)

Income & Assets

Pay stubs for the last 30 days

W-2s for the past two years

Names and addresses of each employer (you will include this on the application) for the past two years

Statements for each bank, mutual fund, and/or investment account for the last two months (all pages, please).

Estimated value of personal property and furniture.

If you have made any large deposits to your accounts:

Explanation and source for deposit

If large deposit was a gift:

	Signed gift letter (lender can supply)
	Copy of gift check
	Copy of deposit receipt

If you own more than 25% of a business:

Corporate or partnership tax returns

If self-employed:

	Tax returns for the last two years (with schedules)
	Year-to-Date Profit and Loss Statement prepared by an accountant

If you own rental property:

Tax returns for the last two years and current rental agreements

If you are retired:

Pension Award Letter

If you receive Social Security:

Social Security Award Letter

If you are counting child support as income:

	Copy of divorce settlement
	Copy of twelve months of cancelled child support checks

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers)

VA Loans

Copy of DD Form 214, Report of Separation

Miscellaneous

Residence addresses for the past two years

If applicable, a copy of your divorce decree

If you are not a citizen, a copy of the front and back of your green card

Washington Association of Mortgage Brokers
Skagit Island Counties Builders Association www.BurlingtonMidDay.org Equala Housing Lender

Security First Financial Services 320 E Fairhaven Ave Ste 101 Burlington, WA 98233

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