LOAN APPLICATION TIME

When you choose a lender you will need to provide lots of information as well as some money at the time you apply for a loan. The more info you take on the initial meeting the faster the lender can start the loan process.

The following list is typical of many lenders:

1. Appraisal and credit report fees due at time of application (est. $280 to $380).
2. Social Security number of all borrowers.
3. Home addresses for the last 2 years.
   
   • Landlords name and phone# if you rent or
   • Mortgage Company name and phone# for homeowners.
4. Employment history for the previous 2 years, including addresses and phone #s.
5. Pay stubs covering the most recent 30-day period.
6. Federal Tax Returns.
   
   • Previous 2 years Federal Tax returns (if you receive commission
     income, alimony/child support, dividend/interest income, or you
     are employed by a relative).
     
   • 3 Years returns for self-employed applicants.
     
   • 3 Years tax returns for some First Time Homebuyer Programs
7. Previous two months bank statements for checking and savings accounts.
8. Statements of retirement stock or investment accounts.
9. Divorce or Separation Agreement (if applicable).
10. Rental Property income (2 years schedule E and/or current lease).
11. Fully Executed Sales Contract.
12. Certificate of Eligibility for VA Loan applicants.

You can check loan types and special programs in