Information Needed for Loan Application

Information Needed for Loan Application

Information Needed for Loan Application


  1. Copy of the ratified contract.
  2. Any ratified addenda.
  3. A copy of the listing card.
  4. Copy of earnest money deposit check.
  5. Name and phone number for Condo or Homeowners Association.


  1. Full names of all purchasers as they are to appear on the title.
  2. Social security numbers of all purchasers. Social security and picture identification for FHA loans.
  3. Present residence address for all purchasers.
  4. Previous address for all purchasers going back two years if they have not resided in the present home for two years.
  5. Home and office phone numbers.


  1. Present Employer name and address AND a contact person to send employment verification form.
    1. Explanation for any gap during 2 year history.
    2. Relocation letter for any transferees-giving date, salary, change location, and any relocation benefits.
  2. Previous Employer name and address and contact person going back two years if not in present job two FULL years.
  3. Present Salary. Year to date pay stub and last 2 years W•2’s.
  4. If any variable income: commission, part-time income, bonus, overtime, interest income, etc., is being used to qualify: Two years SIGNED federal tax returns and W-2’s and/or 1099’s.
  5. If self-employed: Two years signed federal individual and corporate returns (if there are corporate returns). Also a year-to-date profit and loss and balance sheet.
  6. Diploma or transcript if student during 2 year period.


  1. Rental Income: Copy of a lease which is current and at least a year in length.
  2. Alimony and Child Support: Only if used for qualification. Copy of divorce decree and property settlement (ratified) setting out terms. Proof of payment will also be requested at application.
  3. Income from Notes Held: A copy of the ratified note and tax returns if interest was reportable during previous calendar year.
  4. Retirement, Social Security, and Disability Income: Copy of award letter and latest check showing amount of present payment. Copy of end of the year statement if applicable. Social Security income will be reported on tax returns.


  1. Bank Accounts: Name of bank, address, account numbers, type of accounts and present balances. With checking use average balance.
    1. Copy of three most recent statements for all accounts.
  2. Stocks and Bonds: Copy of certificates or copy of recent (within 30 days) broker statement listing the holdings. Copy of statement can be used for many mutual funds, etc.
  3. Life Insurance: Cash value only if being used for down payment.
  4. Vehicles: Year and make and value. Copy of the title if under 4 years old with no outstanding lien.
  5. Real Estate: Address and market value, if free and clear, deed of release, deed, or proof of mortgage payoff.
  6. Present Home: Copy of Sales Contract, Settlement Sheet, and/or Lease.
  7. Gift Letter: Form will be provided by financial representative. Donor Capacity must be verified. Receipt of funds myst be shown in account.


  1. Credit cards: Account number and outstanding balance and most recent statement.
  2. Loans: Auto, Mortgage, Personal, Student, etc.: Name of institution, address, account numbers, outstanding balance, monthly payment, months left on loan. Copy of payment coupon or statement.
    1. 12 Months statements or cancelled checks for all present mortgages.
  3. Alimony and Child Support: Copy of Ratified Decree and property settlement setting out terms.


  1. Certificate of Eligibility: To obtain certificate, will need a 00•214 (Separation of Service) or if in service will need statement of service signed by Commanding Officer or Personnel Officer (certificate must be updated before application).
  2. If in Service may need Authorization to Live Off Base (DO Form 1747 from Housing Office) and Transfer Orders (if applicable).


  1. Appraisal:
    • $ __________ for FHA/VA
    • $ __________ extra for condos
    • $ __________ conventional
  2. Credit Report:
    • $ __________


  1. Listing
  2. Sales Contract
  3. Settlement Sheet (if sold within last year).
  4. Name and address of Present Landlord.
  5. Deed & Deed of Trust (refinances only).

Information Needed for Insurance

  • ___ Homeowner’s Insurance Policy
  • ___ The insurance Agent must write the pol icy to include the fol lowing:
  • ___ Have dwell ing coverage in at least the loan amount.
  • ___ Be dated within the same month, but prior to the settlement date.
  • ___ Have a paid rece ipt for first years premium.
  • ___ Show correct property address.
  • ___ Your names as you will take title.
  • ___ The loss Payee/Mortgagee Clause as follows : FT Mortgage Companies, their successors and/or assigns
    as their interest may appear: P.O . Box 80140, Atlanta, Georgia 30366