Mortgage Loan Application Checklist

The checklist presented below includes the information typically needed from you to complete and supplement your loan application. Most borrowers will not need to provide every item on the list. The documentation you will need to provide depends on your specific situation. We can advise you as to what items will be needed once we obtain your loan application.

Please be aware that if you choose to apply for a mortgage online with us, any information you submit through our web site is completely secure. As with any mortgage provider, LRG Mortgage is tightly regulated by state and federal law with regard to protecting your personal information. We never share it with any third parties except with your written permission and we only do so when it is necessary to process and close your loan.

Personal Identification

• Social Security Number, for borrower and co-borrower if any



• Photo ID



• If you are not a U.S. citizen, proof of your legal right to work in the U.S.

Employment and Income

For the last two years:

• Names, addresses and phone numbers of each employer



• Employment dates



• Monthly wages or salary



• W-2 forms



• Pay stubs for the last 30 days

If you're self-employed (own more than 25% of a business)

• Two years tax returns, profit and loss statements, both company and personal if separate.



• Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.

If you have income from any of the following sources you will need to provide two years' personal federal tax returns.

• Commission



• Overtime



• Bonus



• Partnership



• Rental Property



• Trust



• Notes Receivable



• Interest/Dividends



• Employment income from a family-owned business

If you are retired:

• Pension Award Letter

If you receive Social Security:

• Social Security Award Letter

If divorced or separated:

• Complete executed divorce decree and settlement agreement



• Payment history of alimony/child support over the past 12 months, if it is a financial obligation



• If you choose to have alimony or child support payment that you receive considered as part of your income (you don't have to), be prepared to provide 12 months canceled checks or bank statements reflecting income deposits.

Assets

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

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 have life insurance:

• Insurance company name



• Policy number



• Face amount



• Cash value, if any

If you have a retirement plan

• Approximate vested interest value



• Copy of latest statement

Automobiles:

• Make and model of automobiles



• Estimated resale value

Other Assets

• Estimated market value of personal and household property

Non-Mortgage Debt

Your lender can obtain information about most of your liabilities when they obtain your credit report. If you have any recurring financial obligations that don't appear on your credit report you should inform your loan agent and provide the names, account numbers, balances and monthly payments for any debts missing from your credit report.

If any negative information appears on your credit report, such as late payments, charge-offs, collections, judgments or liens, you may be required by the lender to provide detailed written explanations.

If you own real estate

• Name and address of all mortgage lenders for the past 24 months



• Account numbers



• Monthly payments



• Balances

If you rent

Residence addresses for the past two years.

Name, address and phone number of landlords for the past 24 months

If you're buying a home

Copy of purchase agreement, signed by buyer and seller, including all addenda

If a source of your down payment is a gift:

• Name, address and relationship of donor



• Gift funds will be verified in both the donor and recipient's accounts

Related Information

Apply Online For Your Mortgage Loan

Loan Programs

Current Rates

Buying a Home

Refinance Decision Guide

Home Mortgage Calculators

How to Get the Best Mortgage Rates

How Much Mortgage Can I Qualify For?

Pre-Approval vs. Pre-Qualified

1st Time Home Buyer Loans