Ten Things a Lender Needs From You
- W-2 forms or business tax return forms if you're self-employed for the last two or three years for every person signing the loan.
- Copies of one or more months of pay stubs from every person signing the loan.
- Copies of two to four months of bank or credit union statements for both checking and savings accounts.
- Copies of personal tax forms for the last two to three years.
- Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account.
- Copies of your most recent 401(k) or other retirement account statement.
- Documentation to verify additional income, such as child support, pension, etc.
- Account numbers of all your credit cards and the amounts of any outstanding balances.
- Lender, loan number, and amount owed on other installment loans-student loans, car loans, etc.
- Addresses where you lived for the last five to seven years, with names of landlords, if appropriate.
Documentation for Specific Problems
- When unemployed for one month or more during past 2 years - letter of explanation
- When not employed for 2 years due to graduation from school - a copy of diploma
- When not employed for 2 years due to being in the service - a copy of discharge papers
- Credit problems / bankruptcy - a letter of explanation
