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…

The following information is usually required during the loan process:

Copy of driver's licenses for all parties
Copy of the last 30 days of paycheck stubs
Copy of W-2 forms for 2 years prior to the current year
Copy of all pages of tax returns for 2 years prior to the current year
Copy of last 2 months' bank statements (all pages)
Copy of current home loan monthly statement (refinance only)
Contact of your home owner's insurance agent (refinance only)

Additional Breakdown of Documents Needed to Support 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