Loan Application Checklist

In general, the documentation you will need includes:
Check for appraisal and credit report to Farm Credit
Property Information (if you already have a contract on a house)
Purchase Agreement.
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, addresses and phone numbers of each employer.

W-2s
Statements for each bank, mutual fund, and/or investment account for the last two 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 (we will 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 all W2s, 1099s & schedules).

 Year-to-Date Profit and Loss Statement prepared by you or your an accountant.
  If you own rental property:
 

Tax returns for the last two years and current rental agreements.
  If you are retired:
 

Pension Award Letter or two months bank statements showing direct deposit.
  If you receive Social Security:
 

Social Security Award Letter or two months bank statements showing direct deposit.
  If you are counting child support as income (you don't have to):
 

Copy of divorce settlement.

 Copy of twelve months of cancelled child support checks, bank statements show deposits or state print out.

Debts

Names, 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).

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.

 

 

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