Loan Application Checklist

In general, the documentation you will need includes:
Application fee, normally $90 (due 3 days after application)

Property Information (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 (HUD-1)

Income & Assets

Pay stubs for the last 30 days
For the past two years:
 

Names and addresses of each employer

Federal Income Tax Returns with W-2s
Statements for each bank, mutual fund, and/or investment account for the last three months, ALL PAGES
 • If you have made any large deposits to your accounts:
 

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
•  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 schedules)

Year-to-Date Profit and Loss Statement
 • If you own rental property:
 

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

Pension Award Letter
 • If you receive Social Security:
 

Social Security Award Letter
 • If you are counting child support as income:
 

Copy of divorce settlement

Copy of twelve months of child support cancelled checks

Debts

Names, addresses, account numbers, balances and monthly payments on all existing debts
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 Form DD 214, Report of Separation

Miscellaneous

Photo ID AND Social Security Card

Residence addresses for the past two years

If applicable, a copy of your divorce decree

If not a citizen, a copy of the front and back of your green card

Hazard/Homeowner's Insurance Policy

 

 

...Where Your Interest Is Our "Prime" Concern...
Prime Capital, Inc.
5357 E. Pima St.
 Tucson, AZ 85712-3631
Ph: (520) 323-3300 • Toll Free: (800) 315-7746 •
Fax: (520) 323-1906
E-mail: prime@primecapital.com
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