BORROWER’S CHECKLIST

Borrower(s) Name_____________________________________________________________________

Property Address:______________________________________________________________________

The following documents and/or information is required at the time of the loan application. 

INCOME ITEMS                                            X= Have           Ö = Need

_____Copy of drivers license and information sheet completed

_____ 1 months recent pay-stubs from your present employer (s) showing YTD earnings and pay period.

_____ Signed and dated copies of Federal tax returns (including all schedules) for the previous 2 years.

_____ W-2’s forms for the previous 2 years. 

_____ Recent Bank statements  for two (2) cycles (monthly/quarterly depending on cycle) on all accounts

_____ Verification of stock, money markets, 401(K) and / or pension, profit sharing, IRAs (Latest  two (2)       statements)

_____ Verification and explanation of:

                        ___ Commission Income

                        ___ Bonus Income

                        ___ Overtime Income

                        ___ Child Support (through court or 12 months canceled checks)

                        ___ Other (please provide explanation)

_____ Final Divorce Decree

_____ Legal Separation Agreement

_____ Copy of bankruptcy petition & discharge, including written explanation of why bankruptcy filed

_____Written explanation of any derogatory credit appearing on credit bureau

_____ $ 55.00 check for credit report made payable to Equity One Mortgage

_____ Other___________________________________________________________________

Purchase : OTHER ITEMS

_____ Copy of purchase contract

_____ Closing statement or purchase contract on sale property

_____ Gift letter:  Must include amount, relationship of donor, no repayment required and

           verification of source of gift. (Must be on Gift Letter Form)

_____ Verifiable source of  funds to close

_____ Purchase Homeowners Insurance 14 days prior to closing. (Original proof of insurance page and paid receipt must

            be brought to closing).

_____Other:________________________________________

Refinance : OTHER ITEMS

_____ Current Homeowners Insurance Agent name & phone #_______________________________________

           and declaration page showing policy period and paid through date.

_____  FHA Loan: Previous loan closing package/ (HUD-1 Statement, Note, Deed Of Trust)

_____$275 check made payable to Equity One mortgage  for Appraisal or $400 check for FHA/VA financing loan applications.

_____Other:_______________________________________

Your loan cannot be fully processed until the requested information is received.  Account numbers, addresses and the like must be phoned in within two (2) days of the application date.  Written letters and other documentation must be received within five (5) days.  Delays in receipt of requested information may result in the expiration of your interest rate and discount points.  Other information may be requested during the processing of your loan which are not known at this time.

Please call or send information to the attention of  Donna K. Joerling, your Loan Consultant.

Equity One Mortgage

                                         Donna K. Joerling, Loan Officer

                                                        314 808-1712