What information will be needed for the application (and how it's kept private) Anything you submit over our website is 100 percent, fully secure. And we never, ever share it with anyone except by permission -- that is, if you're giving us information you want us to use to get you the best loan, we use that information to tell mortgage lenders about you and convince them to loan you money. In turn, those mortgage lenders are bound by federal law to keep your information secure.
Here is a list of the information mortgage lenders will use to consider your loan application.
Loan Application Checklist
In general, the documentation you will need includes:
For Purchases: (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.
Income & Assets.
For Refinances:
Name of Insurance company being used for home owners insurance.
Statements from first / second mortgage being paid off.
Current statements of accounts you wish to pay off.
Income & Assets.
Income & Assets
The last 2 most current pay stub for each borrower.
For the past two years:
Names and addresses of each employer.
W-2s
Current statements for each bank, mutual fund, and/or investment account for conforming loans. ( not required for subprime/non-conforming loans. )
Estimated value of personal property and furniture.
If you have made any large deposits to your accounts: ( for purchases Only )
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.
Corporate or partnership tax returns.
If self-employed: ( Full Income Documentation )
Tax returns for the last three years (with schedules).
Year-to-Date Profit and Loss Statement prepared by an accountant.
If self-employed: ( Stated Income )
Document 2 years of self employment
Letter from an accountant, business liscense or other form of proof.
If you own rental property:
current rental agreements.
If you are retired:
Pension Award Letters.
If you receive Social Security:
Social Security Award Letter.
If you are counting child support as income:
Copy of divorce settlement.
bank statements or proof of recieving income
Debts
You do not have to provide liability information. This will automatically be entered on your application from the credit report.
We do need an 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.
CS Financial Services, LLC 7237 Whitley Drive Colorado Springs, CO 80920
What information will be needed for the application