Ready. Set. Go! – The ‘what to do’ checklist

So you’ve decided to start the loan application process. This is the turning point in making your dream home a reality!

Here is an easy ‘ready, set – go!’ checklist to get you and Great Western off to a smooth start.

Work with your loan officer to complete the loan application (1003)
For a purchase transaction, a fully executed sales contract/purchase agreement, with all addendums (including any property upgrades)
Residence address(es) for the past two years
Employment history for the last two consecutive years, including dates employed, name, address, and phone number of employer
List of monthly payments made by you that would not be included on a credit report, such as rent, alimony, child support, etc

Documents needed to support information provided in application:

Complete copies of bank statements (for all your accounts), or statements verifying any other assets being used for qualification purposes, covering the last two months. All pages of the statements are required.
If a W-2 wage earner, most recent two years W-2s and most recent pay stub covering a 30 day period, including overtime, bonuses, and commission income.
If receiving bonuses and/or commissions, provide signed copies of complete personal federal tax returns with all schedules for the last two years.
If a self-employed borrower, most recent two years personal tax returns including all schedules. Also provide a copy of your profit and loss statement through the most recent quarter/year.
If self-employed, other than a sole proprietor, complete copy of corporate, s-corporation, or partnership tax returns for the last two years, including all schedules and signed by a company officer.
If receiving social security, a copy of your most recent Social Security Award Letter.
If receiving pension/retirement, a copy of your most recent pension/retirement check or if direct deposit, a copy of your bank statement showing the deposit source and amount.
If receiving disability, a copy of your Disability Award Letter.
If receiving child Support or alimony (and wish to include as income), a copy of the divorce decree, including all pages.
Copy of divorce decree and filed property settlement agreement, if applicable.
Homeowners insurance declaration page
Flood insurance declaration page, if property is identified as being in a flood zone