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Rocky Westfall
540.219.2633
rocky.westfall@gmail.com
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  • Featured Homes
  • MRE | AP Listings
  • About Rocky
    • About the Company
    • Testimonials
  • Sold Properties
  • Buyer Sales
  • Contact
  • About MRE | AP
  • For Sellers
    • Home pricing & appraisal factors
    • Getting your home ready for the market
    • Marketing activities
    • Information needed to list your home
  • For Buyers
    • Getting ready for your lender
  • Great links
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Getting ready for your lender

For a Quick and Easy Loan Approval Have These Items Ready When You Apply for a Loan

Income Items:

• W2 forms for the last two years
• Most recent pay stubs covering a 30-day period
• Federal tax returns (1040s) for the last two years, IF
□ You are self-employed
□ Earn regular income from capital gains
□ Earn more than 20% of your income from commissions or bonuses
□ Own rental property
□ Or are in a career where you are likely to take non-reimbursed business expenses
• Year to date profit and loss statement (for self-employed)
• Corporate or partnership tax returns (if you own more than 20% of the business)
• Pension award letter (for retired individuals)

• Social security award letters if applicable

Asset Items:

• Bank statements for previous two months (sometimes three) on all accounts – all pages even if you don’t think they’re important
• Statements for two months for all stocks, mutual funds, bonds etc.
• Copy of latest 401k statement (or other retirement assets because they can count as reserves)
• Explanations for any large deposits and source of those funds
• Copy of HUD1 settlement statement on recent sales of homes
• Copy of estimated HUD1 settlement statement if a previous home is for sale, but not yet closed
• Gift letter (if some of the funds come as a gift from a family member – the lender will supply a blank form
• Gifts can also require:
□ Verification of donor’s ability to make the gift (bank statement)
□ Copy of the check used to make the gift
□ Copy of the deposit receipt showing the funds were deposited into bank account or escrow
NOTE: Many get their statements of various kinds over the internet and these are not always accept

Credit Items:

• Landlord’s name, address, and phone number if you rent
• Explanations for any of the following items which may appear on your credit report
□ Late payments
□ Credit inquiries in the last 90 days
□ Charge-offs
□ Collections
□ Judgements
□ Liens
• Copy of bankruptcy papers if you have filed for bankruptcy within the last seven years
Other
• Copy of purchase agreement (if you have already made an offer)
• To document receipt of child support (if you wish to show it as income)
□ Copy of divorce settlement (to show the amount)
□ Copies of twelve months canceled checks to document actual receipt of funds
FHA Loans
• Copy of social security card (or other documentation of SSN)
• Copy of driver’s license
VA Loans
• Copy of DD214
Refinances
• Copy of your most recent monthly mortgage bill
• The following cannot hurt to have ready, but are not as necessary as they once were:
□ Copy of note on existing loan
□ Copy of HUD1 settlement statement on existing loan
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Office information

Middleburg Office
10 E. Washington St, PO Box 485Middleburg
VA 20118
540.687.6321

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All MRE | AP agents are licensed REALTORS® & subscribe to NAR's Code of Ethics. We fully support and operate in accordance with The Fair Housing Act.

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