What you need to get ready before applying for a mortgage loan – Garden City Mortgage

Loan Application Checklist

In general, the documentation you will need includes:

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

Purchase Agreement

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

For the past two years:

	Names and addresses of each employer
	W-2s

Statements for each bank, mutual fund, and/or investment account for the last two months

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 will provide)
	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 all schedules)
	Year-to-Date Profit and Loss Statement prepared by and signed by 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 (all pages)
	Copy of twelve months of cancelled child support checks

Debts

Names, 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)

Miscellaneous

Photo ID (driver's license / passport)

Residence addresses for the past two years

If applicable, a copy of your divorce decree

If you are not a citizen, a copy of the front and back of your green card

Registered Mortgage Broker - New York & Florida Banking Departments

Garden City Mortgage 1225 Franklin Ave Suite 325 Garden City, NY 11530-1691

Phone: Fax: