BUYING A HOME

APPLY FOR A LOAN TODAY!
MORTGAGE LOAN CHECKLIST
A Loan Originator takes the consumer’s application and collects the items needed for review. Here is a list of items a consumer should be prepared to submit to their Loan Originator:
INCOME VERIFICATION

Friend of the court printout or 12 months cancelled checks. (Child support or alimony income can be used if you received it for the past 12 months and it will continue for at least 3 years into the loan period. However, it need not be included if it is not to be considered as income available to repay the loan.)

When income is derived from rental income, commission, interest, or sources of income other than salary, tax returns may be required.

If pension income is used we must be able to confirm it will continue for at least 3-years. Need 1099’s, awards letter and copy of bank statements if direct deposited.

SOURCE OF FUNDS/DOWN PAYMENT
  • Original bank statements for last two months, including savings, checking and investment accounts
  • Stocks and securities account statements for the last two months
  • HUD settlement statement if using the funds from the sale of a property
  • Sale of asset – proof of ownership, proof of sale, and proof of funds transfer
  • For gift funds – a gift letter, evidence of transfer, and sometimes evidence of withdrawal
IF YOU ARE SELF-EMPLOYED
Signed, completed tax returns for the past two years, including personal, partnership, and corporate, if applicable, and all schedules.
Year-to-date business profit and loss statement for current year, if more than three months have passed since the end of the tax year.
PAYMENT HISTORY
  • Cancelled rent or mortgage payment checks for the past 12 months, if not available on credit report
  • Copy of land contract, if possible
  • Child Support / Alimony
  • Bankruptcy / Consumer Credit, if received
ADDITIONAL INFORMATION, IF APPLICABLE
  • Purchase agreement, including legal property descriptions and any addendum
  • Divorce decree
  • Explanation of discrepancies and inquiries on credit
The Justus Sharp Team of NFM Lending
1660 Gateway Circle
Grove City, OH 43123

(614) 369-4838

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