Applying for Your Loan Our Team Pinnacle sales professionals will guide you in the process of exploring your financing options and help you to secure a program that fits your individual needs. After selecting your lot and plans, the first item you'll need to take care of is the selection of a lender and completion of a mortgage application. Your lender's job is to understand your particular financial circumstances completely. You will review all information on the application at your meeting with the loan officer. A situation rarely arises that your loan officer has not encountered in the past. Do not hesitate to discuss any questions you have regarding your assets, income, or credit. By providing complete information, you prevent delays or extra trips to deliver documents. Loan Application Checklist The amount of documentation and information required for a mortgage can seem overwhelming. You can facilitate the application process by collecting as much of the needed information as you can before your appointment. the checklist that follows is a general guide to assist you with the loan application. Some of the items listed may not apply to you and your lender will probably request some items that we have not mentioned, but this list will get you off to a good start. Property information The purchase agreement will include the legal description of the property and the price. Personal Information Social Secutity number and driver's license for each borrower. Home addresses for the last two years. Divorce decree and separation agreements, if applicable. Trust agreement, if applicable. Income Most recent pay stubs. Documentation on any supplemental income such as bonuses or commissions. Names, addresses, and phone numbers of all employers for last two years. W-2s for last two years. If you are self-employed or earn income from commissioned sales, copies of last two years of tax returns with all schedules and year-to-date profit and loss for current year, signed by an accountant. Documentation of alimony or child support, if this income is considered for the loan. Real Estate Owned Names, addresses, phone numbers, and account numbers of all mortgage lenders for the last seven years. Copies of leases and two years of tax returns for any rental property. Market value estimate. Liquid Assets Complete names, addresses, phone numbers, and account numbers for all bank, credit union, 401K, and investment accounts. Copies of the last three months statements for all bank accounts. Copies of any notes receivable. Value of other assets such as auto, household goods, and collectables. Cash value of life insurance policies. Vested interest in retirement funds or IRAs. Liabilities Names, account numbers, balances, and current monthly payment amounts for all revolving charge cards. Names, addresses, phone numbers, and account numbers for all installment debt and approximate balance and monthly payments for such items as auto loans and mortgages. Alimony or child support payments. Names, addresses, phone numbers, and account numbers of accounts recently paid off, if used to establish credit. Please note that you will be asked to pay for a credit report and an appraisal upon signing the application.