Best Loan Application Checklist - Kalamazoo Mortgage

Best Loan Application Checklist

Whenever you apply for a loan, there will always be a loan application checklist of items required by the lender to underwrite and approve the loan.

In general, the documentation you will need includes:

  • Check for the application fee

Property information

(If you already have a contract on a house)

  • Purchase agreement
  • Copy of the legal description and MLS sheet
  • If you are selling your current home, a copy of the listing contract
  • If you have already sold your current home, a copy of the settlement statement (HUD-1)

Income and 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 the 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 several months of canceled child support checks


  • 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


  • 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