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Mortgage Checklist

 BORROWER CHECKLIST

BE PREPARED AT APPLICATION TIME AND SPEED UP THE LOAN PROCESSING TIME.

You can prepare for the application appointment by providing the following information:

  • List of all previous addresses for the past 2 years
  • Social Security Number(s)
  • Divorce decree, if applicable

INCOME VERIFICATION

  • W-2 forms for the previous 2 years
  • Employment information for the previous two years including name, address, and phone number
  • Copy of most recent pay stub(s) for one month
  • Award letter for social Security, and 1099 for disability income
  • If rental income, commission, interest, or income other than salary, tax returns may be required
  • If Child support/alimony a court printout showing 12 months history
  • If Self-Employed a signed completed tax return for the past 2 years, including personal, partnership and corporate if applicable and all schedules. Also, a Business profit and loss statement year-to-date for current year if more than three months have passed since the end of the tax year

ASSET/LIABILITY INFORMATION

  • Copy of bank statements for the previous 2 months, including savings, checking and investment accounts
  • Stock and securities account statements for the previous 2 months
  • HUD settlement statement if using funds from the sale of property for down payment
  • List of other assets including life insurance, retirement funds, automobiles, etc.
  • List of all open credit accounts, i.e. charge accounts, open loans including account numbers, payment amounts and balances
  • Account number, name and address of current mortgage holder or landlord
  • List of all real estate owned including property address, market value, outstanding liens, rental income, mortgage payment, etc.

PROPERTY INFORMATION

  • Signed purchase agreement including legal description
  • If new construction – year land/lot acquired, original cost of land/lot, amount owed on land/lot, and a signed Contract
  • If refinance – year property acquired, original cost of home, cost of improvements, amount owed on property, and description of improvements

 

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Corporate Identifier #311724

 

Medallion Mortgage Company
28632 Roadside Drive, Suite 265, Agoura Hills, CA  91301
Toll Free:  (888) 869-7683
Office:  (818) 338-6852
administration@medallionmtg.com
Copyright © 2017 Medallion Mortgage Company is Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Corporate Identifier #311724.
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