What you need to get ready before applying for a mortgage loan – Heritage Mortgage & Real Estate

Loan Application Checklist

In general, the documentation you will need includes:

Completed and signed loan application provided by Heritage Mortgage

If you are buying a home:

Purchase Agreement

Escrow instructions

If you are selling your current home, copy of listing contract.

If you have sold your current home, copy of settlement statement (HUD-1).

To buy or refinance a home:

Income & Assets:

Income Verification

If self employed:

2010 & 2009 Personal Tax Returns with all schedules

Signed Profit & Loss Statement for the current year prepared by an accountant

If salaried:

2010 W-2 forms

Recent paystub covering at least 30 days of employment

If you own more than 25% of a business:

Corporate or Partnership tax returns

Asset Verification

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

Estimated value of auto(s), boats, personal property, etc.

If you have made any large deposits to your account, provide explanation of source.

Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

If you own rental property:

Tax returns for the last two years, current rental lease agreements, and copy of purchase contract.

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 twelve months of cancelled child support checks.

Mortgage Information:

Most recent mortgage statement showing loan balance

Are your mortgage payments automatically deducted each month?

Condominium Association Information:

Name, Address, Telephone of Homeowners Management Co.

Copy of Master Insurance Policy

Property Appraisal:

Check made payable to appraisal company at time of appt

Miscellaneous:

Copy of Homeowners Insurance Policy

Photo ID and proof of Social Security number.

Copy of DD Form 214, Report of Separation, for VA loans only

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 green card.

Heritage Mortgage & Real Estate 5580 La Jolla Blvd #424 La Jolla, CA 92037

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