What you need to get ready before applying for a mortgage loan

Loan Application Checklist

In general, the documentation that you will need to start the processing of your first mortgage loan once your loan is approved includes:

Check for the Appraisal Fee before an Appraisal is Ordered to establish the value of your home.

Property Information (if you are buying a home) (Not not necessary when refinancing or if you own your home already)

Purchase & Sale Agreement.

Copy of legal description and MLS sheet.

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

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.
	W-2s

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

Estimated value of personal property and furniture.

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 own more than 25% of a business:

Corporate or partnership tax returns.

If self-employed:

	Tax returns for the last two years (with schedules).
	Copies of Business Tax Returns if Filed Separately.

If you own rental property:

Tax returns for the last two years and current rental agreements.

If you are retired:

Pension Award Letter and Proof of Receipt of Income on a Monthly Basis.

If you receive Social Security:

Social Security Award Letter and Proof of Receipt of Income on a Monthly Basis.

If you are counting child support as income:

	Copy of divorce settlement or divorce decree.
	Copy of twelve months of canceled child support checks or Proof of Receipt.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.

Explanation of credit report anomalies, including:

	Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.
	Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.

Residence addresses for the past two years.

If applicable, a copy of your divorce decree.

Name and Phone Number of your HomeOwner's Insurance Agent or Company. Along with Your Policy Number or Account Number.

To Verify The Licensing Status of This Mortgage Company & Your Loan Officer Click the Blue Box Below:

Nationwide Mortgage Licensing System & Registery

CU Mortgage Division

2116 Caton Way SW - Suite 103, Olympia, WA 98502

E-Mail: wm(at)cumortgagedivision.com
Ph: (360) 539-4687
Fax: (253) 320-7539

Mailing Address: PO Box 489, Tenino, WA 98589-0489

CU Mortgage Division proudly serves all Residents of Washington State. CU Mortgage Division is a branch of Network Funding L.P. (NMLS# # 2297 ) a Direct Mortgage Lender. This branch of Network Funding is licensed by the Washington State Department of Financial Institutions, Consumer Loan License #CL 2297/ NMLS # 65808