Mortgage Loan Application Checklist

This is a typical checklist for a customer doing a refinance.

Dear Customer

DATE:

Thank you for choosing First South Mortgage to provide your mortgage financing. In order that we may process your loan for approval, we need the following information and documentation. Only those Items checked are applicable at this time.

I. INCOME

Copy of most recent real estate tax bill for subject property

Most recent pay stubs

(2)

Copy of survey of the property

W-2’s / 1099 forms for 2008

& 20

Copy of your owner’s title policy for subject property

Phone # to verify employment

Person appraiser to contact for access to subject property:

TAX RETURNS containing all supporting schedules:

Name:

Phone #:

Personal

and 20

Copy of sales contract/final closing statement for present

Corporate

and 20

home

(When available)

Partnership

and 20

Copy of listing agreement for present home

K-1 Schedules for all Corporations, Partnerships & Trusts

Homeowner’s association or management company phone #

and 20

for subject association:

Year to date Profit and Loss for

MISCELLANEOUS

Documentation to support receipt of or payment of

Alimony/Child Support:

All application forms to be signed where highlighted

Court Disbursement Record

Application form to be completed (sections highlighted)

months of cancelled checks

Appraisal fee check payable to

Paragon Appraisal

Complete Divorce Decree

for the amount of

$TBD

Complete property settlement agreement

Please send with your application package

Social Security awards letter or last 3 month’s bank

Please pay to appraiser at time of appraisal

statements (all pages) showing direct deposit

Name, address and phone # of landlord for:

Current pension or disability awards letter stating amount &

present residence

term of award

former residence located at:

Copy of executed note receivable & 12 months proof of

Letter to First South Mortgage explaining:

receipt

Copy of fully executed lease for property located at

Copy of HUD1 settlement statement for property located at:

Inspections:

Roof

Pest

Well and Septic

II.

ASSETS

Copy of bankruptcy papers and discharge papers.

Copy of canceled down payment check

Copy of front and back of Alien registration card.

Copy of the last

months statements on all financial

Address and account number for the following:

accounts including savings, checking, credit unions, mutual

funds, stocks, bonds, IRA’s, etc. (if quarterly only one

statement is needed.) *All consecutive numbered pages of

Copy of most recent mortgage statement (or account # and

each statement. (i.e. 1of 4, 2of 4, 3 of 4, 4 of 4.)

customer service phone # from mortgage coupon book.)

Homeowner’s ins. agent’s phone number

Copy of last profit sharing plan statement

Flood insurance agent’s phone number

Original gift letter fully executed by donor

PLEASE BE AWARE THE INSURANCE PRIMIUM MUST BE

Gift donor’s name, address, relationship, phone # and dollar

PAID TO YOUR AGENT BY:

amount of the gift.

Copy of the check from gift donor and bank deposit slip from

VI.

CONSTRUCTION LOANS

you showing deposit of gift funds

Plans and specification

Cost breakdown

Copy of fully executed buy-out agreement on sale of your

residence

VII.

OTHER

Copy of bank statement showing gift funds on deposit.

Copy of drivers license & Social Security Cards

Certified letter from bank or financial institution, on their

(If you cannot locate your social security card, we can work around that

letterhead and signed by a bank employee showing current

can work around that by using another form of I.D)

balance.

Copy of corporate relocation benefits statement and letter

from employer stating you are receiving relocation benefits

III.

LIABILITIES

Copy of most recent statements for credit cards & other loans

which have balances

Copy of the past 12 months cancelled checks (front & back)

I look forward to a smooth and happy closing.

for payment of

mortgage

rent

IV.

PROPERTY

Copy of fully executed sales contract with all addendums and

SINCERELY,

option agreements for purchase of subject property

Copy of warranty deed on subject property

Preston Ware

Copy of first page of Homeowner’s / Windstorm/Flood

Homeowner’s Insurance policy(ies) on subject property