JBSlemmer.com
Checklist
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JBSlemmer.com
Checklist |
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Below is
a checklist of the most frequently requested information by lenders from the
borrower. Use the Checksheet to
gather information and documents prior to completing the loan application. ChecksheetProperty
Information: ____
1. Purchase Contract and Escrow
Instructions – signed by all parties, original or a copy certified true and
correct. ____
2. Names, company and telephone
number for listing and selling real estate agent’s. ____
3. Name, address and telephone
numbers for Title Company and Escrow Office. ____
4. Copy of check for earnest money
deposit. ____
5. Copy of listing, including real
estate taxes and lot dimensions. ____
6. Legal description of property
being purchased. ____
7. Property hazard insurance agents
name, company, and telephone number. ____ 8. Name and telephone number of persons for appraiser to contract to access the property. Employment: ____
1. Names, addresses, telephone
numbers, and exact dates of employment with ALL employers over the past two
years. ____
2. W-2 / 1099’s for 20__ and 20__
from all employers (two years). ____
3. Signed personal federal tax
return including all schedules for 20__ and 20__. ____
4. Most recent pay stub. ____
5. Signed company federal tax
returns including all schedules for 20__ and 20__ (self-employed). ____
6. Current (within past 3 months)
Year-to-date Profit and Loss statement and Balance Sheet for self-employed or
commissioned applicants, reviewed and signed by an accountant without audit. ____
7. Award letter(s) or most current
amendment for social security or retirement benefits.
Include proof of payment (direct deposit or check stub). ____ 8. Copy of Note income – must have 5 years or more remaining. ____
9. Rental agreements / leases (FHA
requires one year lease) for all tenants or real property owned. ____
10. Schedule of Real Estate on all
real property owned to include property address and zip codes, type property
(SFR, TH, condo, etc.) type mortgage (FHA, VA, conventional, private, etc.),
date mortgage originated, mortgage balance, mortgage payment, rental income, and
net income earned (positive and / or negative) on each property. ____
11. Proof of consistent receipt of
child support and alimony if considered qualifying income. Assets: ____
1. Two months of current statements
for ALL bank, credit union or savings accounts showing BALANCE, ACCOUNT NUMBERS,
and COMPLETE ADDRESS of the lenders. ____
2. Stock and bond account
statements including broker’s names, addresses, account numbers, number of
shares and value. ____
3. Life insurance face amount –
cash value if any. ____
4. Year, make and estimated value
of all vehicles. ____
5. Gift letter – funds will be
verified in borrower’s account. Liabilities: ____
1. Name, addresses, balances,
monthly payments, and account numbers for all vehicle loans, charge accounts,
credit cards, and any other financial obligations. ____
2. Lenders’ names, addresses,
balances, monthly payments, and account numbers for all mortgages.
Include a copy of annual statement, a 12 month payment history, and the
loan type (FHA, VA, conventional and / or private) for each loan. ____
3. Letter explaining any slow pays,
collection accounts, judgments, or other credit problems. ____
4. Bankruptcy paper (petition,
schedule of debts, and discharge) and a letter of explanation. Other: ____
1. Addresses and dates of occupancy
for ALL residences for the past two years. ____
2. Names and addresses of all
landlords within the past two years. ____
3. Copies of social security cards
and driver’s license (photo ID is required for each borrower). ____ 4. If divorced, provide divorce decree and stipulations. ____ 5. Name and address of nearest living relative. |
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