What you need to get ready before applying for a mortgage loan with the best rate – MetFund Mortgage Corporation

Loan Application Checklist

In general, the documentation you will need includes:

Check or credit card for your credit report fee

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

Fully ratified Purchase Agreement.

Copy of legal description and MRIS sheet (as available).

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 with YTD info.

For the past two years:

	Names, addresses and phone numbers of each employer.
	W-2s

Statements for each bank (checking/savings), mutual fund, investment and/or retirement (401k, IRA, SEPs, etc) 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 (MetFund 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).
	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 rental agreements.

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.

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 or separation agreement.

If you are not a citizen, a copy of the front and back of your alien registration ("green") card.

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