A few things you will need when applying for a loan...
Personal Information
• Full Name of the borrower or borrowers’
• Social Security number of the borrower or borrowers’
• Date of birth of the borrower or borrowers’
• A credit report for which there is a $20 dollar fee will be pulled in the name of the borrower or borrowers’
Income
• The last months current YTD pay stub(s)
• Two most current year's W-2s or 1099s
• Two most current years federal tax returns (all schedules included)
Assets
• Three most current month's bank statements (all pages even blank ones) on all accounts
• Three most current month's 401k / IRA / VIP / pension statement(s)
• Stock option summary
• The net cash value of your life insurance
• The make, year and value of your automobiles
• Current property owned, the outstanding loan balance, account number, lender phone number and the amount of your monthly payment
• The amount of your monthly rental income (if applicable)
Misc.
• Name & phone number of your home insurance agent
• Appraisal with homeowner as borrower and LakesideMortgage as Lender
• Divorce decree & property settlement / Child support order
• Rental agreement(s) for investment properties
• Resident alien "green" card
• Complete bankruptcy papers Self Employed/Partnerships
• Most current two year's corporate (Form 1120) tax returns
• Year to date profit & loss statement
• Most current two year's K-1's for partnerships (Form 1065 partnership returns required if ownership is 25% or greater) |
