Loan App Checklist - Mountain Equity Mortgage, Inc. Dillon CO

Loan Application Checklist

In general, the documentation you will need includes:

Check for appraisal fee / credit report

Property Information (if you already have a contract on a house)

Signed Purchase 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 signed settlement statement (HUD-1).

Income & Assets

Pay stubs for the most current consecutive 60 days.

For the most recent two years:

	Names, addresses and complete dates of employment of each employer.
	W-2s

Statements for each bank, mutual fund, and/or investment account for the most recent three months (ALL PAGES of each statement).

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 (we can supply form gift letter).
	Copy of gift check.
	Copy of deposit receipt.

If you own more than 25% of a business:

Corporate or partnership tax returns for the most recent two years (with all schedules).

If self-employed:

	Tax returns for the most recent two years (with all schedules).
	Year-to-Date Profit and Loss Statement prepared by an accountant.

If you own rental property:

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

If you are retired:

Most recent Pension Award Letter.

If you receive Social Security:

Most recent Social Security Award Letter.

If you are counting child support as income:

	Copy of signed divorce settlement.
	Copy of twelve months bank statement (all pages) showing chils upport deposits.

Debts

Names, addresses, account numbers, balances and monthly payments on all current mortgages, lines of credit, autos, credit cards, student loans, etc.

Explanation of credit report issues, 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).

Miscellaneous

Copy of Driver's License (License #, Issue Date & Expiration Date)

Residence addresses for the most recent two years.

If applicable, a copy of your signed divorce decree.

If you are a resident alien, a copy of the front and back of your green card or resident alien card.

Post Office Box 3218 Dillon, CO 80435
Phone: Fax: