Main Telephone: 507-280-1973
Home Loan Guide - Gathering Information
- Home Loan Guide
- Credit
- Borrowing Amount
- Loan Information
- Further Assessment
Before applying for a loan, make sure you have all information that you will need to apply for the loan. Common information that you will need to provide before and after the initial application include:
At initial application:- Annual Income
- Social Security & Phone Number
- Name & Social Security Number of any Co-Applicants
- Property & Residence Address
- Previous Residence Address (for credit report)
- Estimated Value of Property
- Proof of Employment & Income (a recent check stub)
- Income tax returns from the previous 2 years
- W-2 forms from the previous year
- A recent bank statement
- A copy of your most recent mortgage statement
- If applicable, a copy of the home purchase contract
- If you currently pay rent, you may need to supply the name & address of your landlord
- If you own other real estate, you may need the lease information, property tax & insurance documents
- If you have received a cash gift, you will need a copy of the check & the name of the giver
- If you receive social security, you will need a copy of the awards letter & a copy of a recent benefit check
- If you receive alimony or child support, you may need evidence of the income (canceled checks or bank statements)
- If you have had a bankruptcy in the past seven years, you will need a copy of the agreement & an explanation of the circumstances