Loan App Checklist

Loan Application Checklist

In general, the documentation you will need includes:

Property Information (if you already have a contract on a house):
Purchase Agreement.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets:

Pay stubs for the last 30 days.
For the past two years:

Names and addresses of each employer.

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 (BayWest 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 two years (all pages).
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 three months of cancelled child support checks or proof of receipt (bank statements with deposit amount).

If Previous Bankruptcy:

Explanation of credit report anomalies, including:

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.
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 residency card.

  _____ Check for the initial credit report fee made payable to BayWest Mortgage.  $13.33 for an individual report or $26.66 for a couple.