What you need to get ready before applying for a mortgage loan – Christensen & Associates, A Financial Group

Loan Application Checklist

In general, the documentation you will need includes:

Check for application fee

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

For the past two years:

	Names and addresses of each employer
	W-2s

Statements for 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:

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 when requested

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

Photo ID and proof of Social Security number

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

Mortgage Calculator:

Sales Price:		$
Down:		%
Interest Rate:		%
Term:		yrs

Monthly payment:		$

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	4.56%	4.71%
15-yr Fixed	4.03%	4.24%
1-yr Adj	3.7%	4.59%

* national averages

Christensen & Associates, A Financial Group Direct Net Mortgage 12832 Valleyview Street #201 Garden Grove @ the 22 and 405 freeways, CA 92845

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