Items Needed For A Loan Application in Bradley Beach NJ

You may feel like you are drowning in paperwork when you head to your lender’s office to apply for your next home loan.  This is thanks in part to tightening credit standards that are causing lenders to require more proof than ever of borrowers’ income and expenses.  To try to help with the process, I’ve put together a list of items you may be required to bring along when are ready begin the loan application process:  (please note, all lenders are different and may require more or less paperwork!) 

Employment/Income
          Addresses of employers for two full years
          Gross monthly income, proven by last two pay stubs
          W-2’s, if available
          Proof of pensions, retirement, disability, or Social Security
          Proof of income from rentals, investments, etc.
          Proof of child support or alimony paid/received
          Self-employed: two years 1040 tax returns and current year profit and loss statement 

Creditors
          Each creditor’s name, type of account, and account numbers
          Monthly payments and approximate balances
          Amount of child care expenses and other fixed monthly expenses 

Banking
          Names of checking & savings institutions, along with account numbers and current balances
          Last two months bank and savings statements 

Miscellaneous
          List of assets in stocks, bonds, land
          Life insurance cash value
          Social Security numbers for all parties
          Veterans: Certificate of Eligibility & DD-214 or Statement of Service
          Divorce Decree and/or Separation Agreement if applicable
          Child support documentation if applicable
          Bankruptcy papers if applicable 

This may seem like a lot of personal information to have to provide just to apply for a home loan.  But imagine if you were about to lend hundreds of thousands of dollars to somebody – you’d probably want a pretty good idea of that person’s ability to pay you back! 

Please click here to get started searching for homes on the Jersey Shore.  You can also visit my website or email me to learn more about Bradley Beach NJ real estate.  I’m here to help!

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
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