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Mortgage and Financing | Mortgage Application Check List Form
Mortgage Application Check List Form
An accurate and complete application is a perfect start in the mortgage process and will help set the tone for a smooth, efficient and hassle-free experience. Please be prepared with the following information at the time of your mortgage application:
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Residence History - Why? Helps show stability and the ability to make your housing payment on time.
_____ Home addresses for the past 2 years
_____ Length of time at each address
_____ Landlord's name and addresses for the past 12 months (if renting)
Employment History - Why? Shows income pattern and helps determine the ability to repay your new mortgage.
_____ Name, address and phone number for all employers for the past 2 years
_____ Dates employed with each employer for the past 2 years
_____ Income earned with each employer for the past 2 years
_____ Explanation for any gaps in employment
Outstanding Debt - Why? Helps determine total existing debt and how much you can afford for a mortgage payment.
_____ Each creditor's name & address
_____ Account numbers for each debt
_____ Current total balance & months left to pay
_____ Monthly minimum payment amounts
Savings, Investment, Checking Accounts - Why? Helps to determine your total assets, cash reserves and down payment source.
_____ Names & addresses for each financial institution
_____ Account numbers
_____ Current account balances or values
Information about Real Estate you own (for each property) - Why? Helps determine additional assets, income, and debt obligations.
_____ Property address
_____ Estimated market value
_____ Outstanding loan balance(s) & account number(s)
_____ Name & address of mortgage company
_____ Monthly payment amounts (including tax, insurance and HOA dues)
_____ Monthly rental income amounts if applicable
Personal Property Information -- Why? Adds to the total of your existing assets if necessary to help you qualify.
_____ Value of furniture, jewelry, art or other personal property
_____ Net cash value of life insurance
_____ Make, year and value of any owned automobiles