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Buying Basics - Loan Application Checklist

 

 

In general, the documentation you will need includes:

 

Copy of driver's license or other type of identification.


 

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.

W-2s

 

Statements for each bank, mutual fund, and/or investment account for the last three months.

Estimated value of personal property and furniture.

 

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 three years (with schedules).

Year-to-Date Profit and Loss Statement prepared by an accountant.

 

 

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 cancelled child support checks.

 


 

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.

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.

 

 
 

Refinance

We can assist you in locking a long-term fixed rate or refinance and get cash out.  We can help!  To get started click here

Purchase

Purchasing a home will likely be one of the most important investments you'll ever make. We can help!  To get started click here

FHA loans

FHA home loans provide higher loan to value, lower rates and enable more people to qualify.  We're FHA experts... We can help!
To get started click here

 

 

 

Licensing Information  -  William Lyon Mortgage, LLC Licensing Disclosure
This is not an offer for extension of credit or a commitment to lend. Not all programs are available in all areas. Not all branches are licensed in every state, please contact your local office to determine eligibility. Program restrictions apply. William Lyon Mortgage, LLC is a Delaware Limited Liability Company headquartered at 4 Hutton Centre Drive, Suite 760, Santa Ana, CA 92707. Company NMLS #1189778 (www.nmlsconsumeraccess.org). Licensed by the following states: Arizona Mortgage Banker #0928369; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act RMLA #41DBO-46049 and the California Financing Law License #60DBO-41418; Colorado Division of Real Estate under Mortgage Company Registration; Washington Consumer Loan License #CL1189778; Nevada Department of Business and Industry as Mortgage Broker License #4166. For State of Nevada residents William Lyon Mortgage, LLC is a mortgage lender broker promoting the loan products or services contained in this article; the business phone number that William Lyon Mortgage maintains on file with the State of Nevada Department of Business and Industry is (949) 476-5491. William Lyon Mortgage, LLC is an authorized FHA and VA lender, and offers many loan products. Contact a William Lyon Mortgage Representative to learn more. This information is accurate as of June 27th, 2018.
 
William Lyon Mortgage, LLC’s policy is to treat all applicants and borrowers in a fair and consistent manner and without regard to race, color, religion, national origin, age (provided the applicant or borrower has legal capacity to enter into a binding contract), sex, marital status, disability, familial status, receipt of public assistance, or exercise of rights under the Consumer Credit Protection Act, or any other prohibited basis identified under state law.
 
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