Matt HeafeyWhat to Prepare before Beginning the Home Loan Process

The following information is typically needed for a home loan application:

  • Copy of the purchase contract and property information
  • Mailing address and property description
  • Contact information for access to the property

Personal Information

  • Social Security Number
  • Marital Status
  • Number and age of dependents
  • Current address and telephone numbers
  • Addresses for the past seven years (if more than one)
  • Current housing expenses (rent, mortgage, insurance, taxes)
  • Name and address of landlord/mortgage holder (past two years only)

Employment history and income

  • Two years of employment history, with complete details of each position
  • Recent pay stubs and two years of W-2 forms
  • Tax returns and financial statements if self-employed
  • Records of dividend and interest received
  • Proof of other income

Assets

  • Information about all bank and money market accounts
  • Two months of bank statements
  • Current values of stocks, bonds, mutual funds and other investments
  • Vested interest in retirement funds
  • Value of life insurance
  • Information about any cars you own
  • Information about any real estate you own
  • Value of any significant property you own

Liabilities and debts

  • Itemized list of all current debts: loan and credit cards and other bills
  • Written explanation of any past credit problems
  • Full details of bankruptcy during the last seven years, if applicable

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